What does it mean when a cryptocurrency exchange uses the term 'day order'?

3 answers

• Leon632Sep 29, 2023 · 2 years ago
  A 'day order' in the cryptocurrency exchange refers to an order that is valid only for the current trading day. It means that if the order is not executed by the end of the day, it will be automatically canceled. This is a common term used by exchanges to differentiate between orders that are meant to be executed immediately and those that have a longer validity period.
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• NerdytipsJun 08, 2023 · 2 years ago
  When a cryptocurrency exchange uses the term 'day order', it simply means that the order you place will remain active until the end of the trading day. If the order is not filled by the end of the day, it will be canceled automatically. This is important to understand because if you want to keep your order active for a longer period, you may need to use a different order type, such as 'good till canceled' or 'immediate or cancel'.
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• TRACKER UPDATEDec 04, 2022 · 3 years ago
  In the context of a cryptocurrency exchange, a 'day order' is an order that is valid only for the current trading day. It means that if the order is not executed by the end of the day, it will be automatically canceled. This is a standard practice in the industry to ensure that orders are not left open indefinitely and to maintain market efficiency. At BYDFi, we also use the term 'day order' to provide our users with a clear understanding of the order's validity period.
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