Good Till Cancelled (GTC) is an order time-in-force instruction that keeps a pending order active until either:
- The order is filled (executed)
- The trader manually cancels it
GTC vs Other Durations
| Duration | Description |
|---|---|
| GTC | Active until filled or cancelled |
| Day Order | Expires at end of trading day |
| GTD | Good Till Date — expires on specified date |
| IOC | Immediate or Cancel — fill what’s possible now |
| FOK | Fill or Kill — fill all immediately or cancel |
When to Use GTC
✅ Long-term support/resistance entries ✅ Limit orders at key price levels ✅ When you’re patient about entry price
Risks
⚠️ May execute during unexpected volatility ⚠️ Forgotten orders can trigger at bad times ⚠️ Some brokers auto-cancel GTC orders after 30-90 days
Best Practice
Review GTC orders weekly. Set calendar reminders to check if your price levels are still relevant.