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A good ’til cancelled (GTC) order allows traders to buy or sell a security at a specified price, even if it takes days, weeks or months for the specified price to be reached. Unlike day orders that expire if unfilled by the end of a trading session, a GTC order typically remains active until executed or manually canceled by the trader. They may also be canceled by the brokerage if they exceed a time limit, typically 30 to 90 days. This type of order helps traders maintain a target price without continuously monitoring the market. While GTC orders offer flexibility, they are subject to market conditions, price fluctuations and brokerage-imposed time limits, typically lasting up to 90 days before…
