What Is GTC (Good-Till-Cancelled) Order?
A GTC order remains active across multiple trading sessions until it's either filled, manually cancelled, or hits the broker's maximum duration (typically 60-180 days, varies by broker). Useful for setting limit prices far from current market and waiting for the market to come to you.
Most brokers automatically cancel GTC orders if a corporate action affects the underlying (stock split, dividend, etc.) — re-entering is the trader's responsibility. Some brokers also cancel GTC orders at the end of the maximum window without warning.
Use GTC for entry orders on watchlist names you're waiting for specific prices on, and for stop-loss orders on long-term positions. Avoid GTC for tight-stop intraday trades — a regular day order is cleaner and avoids stale orders firing days later.
Related terms
- Limit Order — An order to buy or sell at a specified price or better — guarantees price, not execution.
- IOC (Immediate-Or-Cancel) Order — Order that fills any available quantity immediately and cancels the rest.
- FOK (Fill-Or-Kill) Order — Order that must fill the full quantity immediately or be entirely cancelled.
- Stop Loss — A predefined exit price that limits losses if a trade moves against you.