What is the difference between day order and GTC in the context of cryptocurrency trading?

3 answers

• Rodriguez KofodJan 03, 2024 · 2 years ago
  A day order is a type of order that is valid only for the current trading day. If the order is not filled by the end of the day, it will be automatically canceled. Day orders are typically used by traders who want to execute a trade quickly and do not want their order to remain open for an extended period of time. On the other hand, a GTC (Good 'Til Canceled) order is an order that remains active until it is either filled or manually canceled by the trader. GTC orders are often used by investors who have a longer-term trading strategy and want to keep their order open until it is executed or they decide to cancel it.
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• Iversen IsaksenFeb 06, 2022 · 3 years ago
  When it comes to day orders and GTC orders in cryptocurrency trading, the main difference lies in their validity period. A day order is only valid for the current trading day, while a GTC order remains active until it is filled or canceled. Day orders are commonly used by day traders who aim to capitalize on short-term price movements, while GTC orders are favored by long-term investors who are willing to wait for the right opportunity to buy or sell. It's important to note that the specific rules and validity periods may vary between different cryptocurrency exchanges, so it's always a good idea to familiarize yourself with the platform's order types and policies.
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• Shubha Gita KJun 24, 2020 · 5 years ago
  In the context of cryptocurrency trading, a day order is an order that is valid only for the current trading day. If the order is not filled by the end of the day, it will be automatically canceled. This type of order is commonly used by traders who want to take advantage of short-term price movements and do not want their order to remain open for an extended period of time. On the other hand, a GTC (Good 'Til Canceled) order is an order that remains active until it is filled or manually canceled by the trader. This type of order is often used by investors who have a longer-term trading strategy and want to keep their order open until it is executed or they decide to cancel it. It's important to consider your trading goals and time horizon when choosing between a day order and a GTC order.
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