A GTC order is an instruction given to a broker to keep a buy or sell order open until the trader decides to cancel it. Unlike a day order— which expires when the market closes— a GTC order stays active for days, weeks, or even months, depending on the broker’s policy. This allows traders to set their desired entry or exit price without needing to recreate the order every day.
GTC orders are useful for traders who are waiting for a specific price level but do not want to monitor the market constantly. The order will automatically execute if the market reaches the chosen price. Because the order stays open, traders must be aware of changing market conditions, as the original price may no longer reflect their current strategy or risk tolerance.
Some brokers set time limits on GTC orders (e.g., 30–90 days) for risk control, even though the order type is called “Good Till Cancelled.” Traders should always check how their broker handles these rules. GTC orders can be used for stocks, ETFs, futures, and other markets.
GTC orders help traders automate their strategy and avoid missing a price level. They provide convenience and flexibility, especially for those who cannot watch the market throughout the day.
Traders use GTC orders when they want to buy or sell at a specific price but are not in a hurry. It is useful for long-term strategies, such as buying a stock on a pullback or setting a higher target price for selling. GTC orders reduce the need to monitor markets constantly and help traders stick to disciplined entry and exit plans.
Markets change over time, and an order placed weeks ago may no longer fit current conditions. A GTC order might trigger during unexpected volatility or news events, leading to unwanted fills. Traders must review open GTC orders regularly to make sure the price still aligns with their strategy and risk level.
Some brokers keep GTC orders open until the trader manually cancels them. Others automatically expire them after a set period—often 30 to 90 days—to prevent outdated orders from triggering. Each trading platform has its own policy, so traders should confirm how long their GTC orders remain active.
A trader wants to buy a stock only if it drops to $50, but the current price is $57. They place a GTC limit order at $50. Two weeks later, the stock dips to that level, and the order automatically fills without the trader needing to take any action.
