What are the advantages and disadvantages of using day orders versus GTC orders in the cryptocurrency market?

1 answers

• Ricardo BlohmMay 11, 2023 · 2 years ago
  Day orders and GTC orders offer different advantages and disadvantages in the cryptocurrency market. Day orders allow traders to take advantage of short-term price movements by setting a specific time frame for the order to be active. This can be beneficial for those who want to capitalize on intraday fluctuations. However, if the desired price is not reached within the specified time, the order will be canceled. On the other hand, GTC orders remain active until executed or manually canceled, providing flexibility for traders who want to hold onto their positions for a longer period of time. However, GTC orders may not be suitable for those who want to react quickly to market conditions or take advantage of short-term price movements.
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