Why is understanding 'time in force' important for cryptocurrency traders?

3 answers

• Nov 24, 2021 · 3 years ago
  Understanding 'time in force' is crucial for cryptocurrency traders as it determines how long an order will remain active in the market. Different time in force options, such as 'Good Till Cancelled' or 'Immediate or Cancel', have different implications for traders' strategies and risk management. By understanding these options, traders can effectively control their exposure to market volatility and optimize their trading strategies.
  437219
• Nov 24, 2021 · 3 years ago
  Time in force is like a timer on your cryptocurrency trade. It determines how long your order will be valid in the market. If you set a 'Good Till Cancelled' time in force, your order will stay active until it is manually cancelled. On the other hand, if you choose 'Immediate or Cancel', your order will be executed immediately or cancelled if it cannot be fully filled. Understanding these time in force options is important for traders to ensure their orders are executed according to their trading plans and objectives.
  523175
• Nov 24, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi understands the importance of 'time in force' for traders. Different time in force options offer traders flexibility and control over their orders. BYDFi provides a range of time in force options, including 'Good Till Cancelled', 'Immediate or Cancel', and 'Fill or Kill', allowing traders to choose the most suitable option for their trading strategies. By understanding 'time in force', traders can effectively manage their risk and maximize their trading opportunities on BYDFi.
  525132