What is the meaning of GTC?

The GTC order differs from other order types, such as Day Orders, which automatically expire at the end of the trading day if not executed. With GTC orders, investors can set and forget, allowing for long-term strategies without the need for constant monitoring.

However, brokerages impose restrictions on the lifespan of GTC orders to maintain market efficiency and protect investors. A common limit is 90 days, meaning an investor must reassess or cancel their GTC order after this period to avoid automatic expiration.

The use of GTC orders can be beneficial for traders who anticipate market fluctuations but are uncertain of the exact timing. By leaving the order open, they can capitalize on favorable price movements without constantly monitoring the market.

Good 'Til Canceled (GTC) orders are a versatile tool for investors seeking to buy or sell securities without immediate execution. They provide the flexibility to maintain an order's activeness until the desired trade occurs or the investor decides to cancel it.

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