What factors should I consider when choosing between a good till cancelled order and a 30-day order in cryptocurrency trading?

3 answers

• ezgiNov 16, 2023 · 2 years ago
  When choosing between a good till cancelled order and a 30-day order in cryptocurrency trading, it's important to consider factors such as market volatility, trading goals, and risk tolerance. Good till cancelled orders remain active until they are filled or manually canceled, allowing traders to take advantage of potential price fluctuations. On the other hand, 30-day orders have a specific time limit and may be more suitable for longer-term trading strategies. Ultimately, the choice depends on individual preferences and trading objectives.
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• apfelbaumJul 30, 2020 · 5 years ago
  Deciding between a good till cancelled order and a 30-day order in cryptocurrency trading can be a tough call. If you're someone who wants to actively manage your trades and take advantage of short-term price movements, a good till cancelled order might be more suitable. However, if you prefer a set-it-and-forget-it approach and have a longer-term investment horizon, a 30-day order could be a better fit. Consider your trading style, risk tolerance, and market conditions before making a decision.
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• Abdullah JanDec 01, 2021 · 4 years ago
  When it comes to choosing between a good till cancelled order and a 30-day order in cryptocurrency trading, it's important to understand your trading platform's capabilities and limitations. Some platforms may not support certain order types or have restrictions on order durations. Additionally, consider the liquidity of the cryptocurrency you're trading and the potential impact of market volatility. It's always a good idea to test different order types and durations with small amounts before committing larger sums of money. Remember, each trader is unique, so find the approach that aligns with your goals and risk tolerance.
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