What does TimeInForce control for limit orders?

TimeInForce defines the maximum duration a limit order is allowed to remain open before it is automatically canceled.

This ensures that orders don’t linger in the market indefinitely, preventing stale trades and unintended fills during fast-moving market conditions.

🔹 How It Works

• TimeInForce is measured in seconds.
• Once a limit order is placed, the bot monitors the elapsed time:

If elapsed time ≥ TimeInForce → Order is canceled automatically

• This prevents old or unexecuted orders from being filled at unfavorable prices.

🔹 Example

TimeInForce: 60

• Limit order will remain open for 60 seconds.
• If the order is not filled within this window, it is automatically canceled.
• This is especially useful in volatile markets, where prices can move rapidly.

Example Scenario

• Market is moving fast, signal triggers a limit buy at $100
• TimeInForce = 30 seconds
• Price moves to $101 after 20 seconds → order partially fills or remains unfilled
• After 30 seconds → order is canceled automatically
• Prevents unexpected fills at a later time when price may no longer align with your strategy

🔹 Why It’s Important

1. Prevents Stale Orders

   • Old orders can execute at the wrong price if the market has moved significantly.

2. Reduces Risk in Fast Markets

   • Limit orders with long lifetimes may accidentally trigger during spikes or dips.

3. Maintains Strategy Accuracy

   • Ensures trades are executed only when market conditions match the signal.

🔹 Recommended Values

• Shorter TimeInForce → reduces risk, more cancellations
• Longer TimeInForce → higher chance of fill, but may result in stale entries

🔹 Practical Tip

• Combine TimeInForce with AskPriceBufferPer for optimal results:

  • Small buffer improves fill probability
  • Limited TimeInForce prevents executing orders at outdated prices

✅ Key Takeaway

TimeInForce ensures limit orders remain relevant and aligned with market conditions.

• Controls the maximum lifespan of a limit order
• Prevents stale or unintended fills
• Critical for fast-moving or volatile markets
• Adjust based on trading style: shorter for scalp/HFT, longer for calm or swing trades