Which time in force option is recommended for limit orders in the cryptocurrency market?

3 answers

• Jan 14, 2022 · 3 years ago
  The time in force option that is commonly recommended for limit orders in the cryptocurrency market is 'Good 'Til Cancelled' (GTC). This means that your order will remain active until it is either filled or manually canceled by you. GTC is a popular choice because it allows you to set a specific price at which you want your order to be executed, and it gives you the flexibility to wait for the market conditions to meet your desired price. However, keep in mind that GTC orders may remain open for a long time, so it's important to regularly review and adjust your orders if necessary.
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• Jan 14, 2022 · 3 years ago
  For limit orders in the cryptocurrency market, the 'Immediate or Cancel' (IOC) time in force option can also be considered. With IOC, your order will be executed immediately at the desired price or be canceled if it cannot be fully filled. This option is suitable if you prioritize immediate execution over price certainty. However, be aware that partial fills are possible with IOC orders, and any unfilled portion will be canceled. It's important to carefully consider your trading strategy and goals before choosing the time in force option for your limit orders.
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• Jan 14, 2022 · 3 years ago
  At BYDFi, we recommend using the 'Good 'Til Cancelled' (GTC) time in force option for limit orders in the cryptocurrency market. This option allows you to set a specific price at which you want your order to be executed and gives you the flexibility to wait for the market conditions to meet your desired price. GTC orders remain active until filled or manually canceled, providing you with the opportunity to capture the best possible price for your trade. Remember to regularly review and adjust your orders as market conditions change.
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