Is it possible to set a specific time frame for a resting order to be active in cryptocurrency trading?

3 answers

• May 01, 2022 · 3 years ago
  Yes, it is possible to set a specific time frame for a resting order to be active in cryptocurrency trading. This feature is commonly known as 'time-in-force' or 'order duration'. When placing a resting order, you can specify the duration for which you want the order to remain active. The available options usually include 'Good Till Cancelled' (GTC), 'Immediate or Cancel' (IOC), and 'Fill or Kill' (FOK). GTC orders remain active until manually cancelled, while IOC orders are executed immediately or cancelled if not filled. FOK orders are either executed in full or cancelled. Setting a specific time frame for a resting order allows you to have more control over your trades and helps you avoid situations where orders remain open indefinitely.
  750

  375
• May 01, 2022 · 3 years ago
  Absolutely! You can definitely set a specific time frame for a resting order to be active in cryptocurrency trading. This feature is particularly useful when you want to limit the duration for which your order is valid. By setting a time frame, you can ensure that your order is automatically cancelled if it is not executed within the specified period. This helps you avoid situations where your order remains open for an extended period of time, potentially leading to missed trading opportunities. It's a great way to manage your trades more efficiently and ensure that your orders are in line with your trading strategy.
  624

  208
• May 01, 2022 · 3 years ago
  Yes, you can set a specific time frame for a resting order to be active in cryptocurrency trading. For example, at BYDFi, our platform allows you to choose from various order durations such as 'Good Till Cancelled' (GTC), 'Immediate or Cancel' (IOC), and 'Fill or Kill' (FOK). GTC orders remain active until manually cancelled, while IOC orders are executed immediately or cancelled if not filled. FOK orders are either executed in full or cancelled. Setting a specific time frame for your resting order can help you manage your trades more effectively and ensure that your orders are executed within your desired time frame.
  625

  157