Can you explain the concept of 'time in force' with examples from the cryptocurrency market?

3 answers

• thomasAndersonJul 24, 2022 · 3 years ago
  Sure! 'Time in force' is a term commonly used in the cryptocurrency market to refer to the duration for which an order remains active before it is automatically canceled. It determines how long an order will stay open and be available for execution. For example, if you set a 'time in force' of 'Good Till Canceled' (GTC), your order will remain active until it is either filled or manually canceled by you. On the other hand, if you set a 'time in force' of 'Immediate or Cancel' (IOC), your order will be executed immediately, and any unfilled portion will be canceled. Different exchanges may offer various 'time in force' options to cater to different trading strategies and preferences. It's important to understand and choose the appropriate 'time in force' setting when placing orders to ensure they are executed as desired.
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• seekosmAug 04, 2024 · a year ago
  Alright, let me break it down for you. 'Time in force' is like a timer for your order in the cryptocurrency market. It determines how long your order will be active and available for execution. Let's say you set a 'time in force' of 'Fill or Kill' (FOK). This means that your order must be executed immediately and in its entirety, or it will be canceled. If you set a 'time in force' of 'Good Till Time' (GTT), you can specify a specific time until which your order will remain active. After that time, if the order is not filled, it will be automatically canceled. Different exchanges may have different 'time in force' options, so make sure to check what's available before placing your orders.
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• Chris TaylorJul 03, 2025 · 19 days ago
  Certainly! 'Time in force' is an important concept in the cryptocurrency market. It refers to the duration for which an order will remain active before it is canceled. Let's take BYDFi as an example. When placing an order on BYDFi, you can choose from various 'time in force' options such as 'Immediate or Cancel' (IOC), 'Good Till Canceled' (GTC), and 'Fill or Kill' (FOK). IOC means that your order will be executed immediately, and any unfilled portion will be canceled. GTC means that your order will remain active until it is filled or manually canceled. FOK means that your order must be executed immediately and in its entirety, or it will be canceled. It's important to understand these options and choose the one that aligns with your trading strategy and goals.
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