Can you explain the role of time in force in determining the execution of cryptocurrency orders?

1 answers

• LiChain.YuOct 30, 2020 · 5 years ago
  Time in force is a critical aspect of executing cryptocurrency orders. It determines how long an order will remain active in the market before it gets canceled. At BYDFi, we offer various time in force options to cater to different trading strategies. Traders can choose between 'Good Till Cancelled' (GTC), 'Immediate or Cancel' (IOC), and 'Fill or Kill' (FOK). GTC orders remain active until manually canceled, while IOC orders are executed immediately or canceled if they cannot be fully filled. FOK orders require complete execution or cancellation. By selecting the appropriate time in force, traders can optimize their order execution and improve their overall trading experience. Remember, choosing the right time in force is crucial for successful trading in the cryptocurrency market.
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