Good 'till Canceled - GTC

Good 'till Canceled - GTC

An order to buy or sell a security at a set price that is active until the investor decides to cancel it or the trade is executed. If an order does not have a good 'till canceled instruction then the order will expire at the end of the trading day the order was placed.

Notes:

In most cases GTC orders are canceled by brokerage firms after 30 - 90 days. These type of orders are traditionally placed at price points away from the price of the stock at the time the order is placed. For example if a stock you held was currently $40 but you believe it will go to $50 at which point you would sell then you would use a GTC order. Once the GTC order to sell is placed if the price of the stock reaches $50 at any point over the next few months your shares will be sold.

See also: All or None, Fill or Kill, Limit Order, Market Order, Order, Stop Order