Can you explain the impact of time in force on cryptocurrency order cancellation?

1 answers

• Apr 30, 2022 · 3 years ago
  Time in force is a concept that is commonly used in cryptocurrency trading to determine how long an order will remain active before it is canceled. Different time in force options, such as GTC, IOC, and FOK, offer traders flexibility in managing their orders. For example, a GTC order will remain active until it is manually canceled, while an IOC order will be canceled if it cannot be immediately executed. The choice of time in force depends on the trader's objectives and risk tolerance. Traders who want to ensure that their orders are executed as quickly as possible may opt for IOC or FOK orders, while those who prefer a longer time horizon may choose GTC orders. Understanding the impact of time in force is crucial for effective order management and risk control in cryptocurrency trading.
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