Can a good till cancelled order be automatically executed when the price of a cryptocurrency reaches a certain level?

5 answers

• Sonu SedhaiMar 03, 2021 · 4 years ago
  Yes, it is possible for a good till cancelled order to be automatically executed when the price of a cryptocurrency reaches a certain level. This process is known as a stop order or a stop-limit order. When you place a stop order, you set a specific trigger price. Once the market price reaches or surpasses this trigger price, the order is automatically executed. This allows you to buy or sell a cryptocurrency at a predetermined price, even if you are not actively monitoring the market. It's a useful tool for managing risk and taking advantage of price movements.
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• Bruun CooleyJan 14, 2021 · 4 years ago
  Absolutely! If you want to ensure that your order gets executed when the price of a cryptocurrency hits a certain level, a good till cancelled order with a stop or stop-limit condition is the way to go. This type of order will automatically trigger a buy or sell action when the specified price condition is met. It's like having a personal assistant that executes trades for you based on your predefined criteria. Just set your trigger price, sit back, and let the order do the work for you.
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• josé evangelistaJul 18, 2023 · 2 years ago
  Yes, a good till cancelled order can be automatically executed when the price of a cryptocurrency reaches a certain level. This feature is commonly available on most reputable cryptocurrency exchanges. For example, on BYDFi, you can place a stop order with a specific trigger price. When the market price reaches or surpasses this trigger price, the order will be executed. It's a convenient way to automate your trading strategy and take advantage of price movements without constantly monitoring the market.
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• Friedman NicholsAug 12, 2021 · 4 years ago
  Definitely! If you want to ensure that your order gets executed at a specific price level, you can use a good till cancelled order with a stop condition. This type of order will automatically trigger a buy or sell action when the market price reaches the specified level. It's a great tool for setting up a target price and letting the order execute when the time is right. Just make sure to check if your chosen exchange supports this feature.
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• Fengrui YeSep 22, 2024 · 9 months ago
  Yes, a good till cancelled order can be automatically executed when the price of a cryptocurrency reaches a certain level. It's a common feature offered by most cryptocurrency exchanges. By setting a stop or stop-limit condition, you can ensure that your order gets executed when the market price reaches your desired level. It's a convenient way to automate your trading strategy and take advantage of price movements without constantly monitoring the market.
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