What is the meaning of 'time in force good for day' in the context of cryptocurrency trading?

3 answers

• Abdullah SaeedDec 17, 2023 · 2 years ago
  In cryptocurrency trading, 'time in force good for day' refers to an order type that specifies that the order will remain active only for the current trading day. This means that if the order is not executed by the end of the trading day, it will be automatically canceled. Traders use this order type to ensure that their orders are executed within a specific time frame and to avoid having their orders open indefinitely.
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• sushilkumarJan 01, 2024 · 2 years ago
  Alright, so 'time in force good for day' is basically a way for traders to set a time limit on their orders in cryptocurrency trading. It means that if the order is not filled within the same trading day, it will be canceled automatically. This can be useful for traders who want to take advantage of short-term price movements and don't want their orders to stay open for too long.
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• Hassan Khan KhalilMar 14, 2024 · a year ago
  When it comes to 'time in force good for day' in cryptocurrency trading, BYDFi offers this order type to its users. It allows traders to set a time limit on their orders, ensuring that they are executed within the same trading day. This can be beneficial for traders who want to take advantage of intraday price movements and have more control over their trading strategies. However, it's important to note that this order type is not exclusive to BYDFi and is also available on other cryptocurrency exchanges.
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