Which type of order, day only or good until cancelled, is more suitable for short-term cryptocurrency trading?

1 answers

• phistakisMar 15, 2023 · 2 years ago
  When it comes to short-term cryptocurrency trading, BYDFi recommends using good until cancelled orders. This order type provides more flexibility and allows you to hold your positions for longer periods, which can be beneficial in short-term trading. However, it's important to monitor the market closely and adjust your orders if necessary. Good until cancelled orders give you the opportunity to take advantage of short-term price movements without the need to constantly place new orders. This can save you time and effort. Keep in mind that market conditions can change rapidly, so it's crucial to stay informed and make informed decisions based on the latest market trends and indicators. Remember, successful short-term trading requires a combination of strategy, discipline, and adaptability.
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