Good Till Canceled (GTC): An Order That Stays Active Until Executed or Manually Canceled

When traders place orders in the market, they can choose how long those orders should remain active.
A Good Till Canceled (GTC) order is an instruction to buy or sell a security that remains open until it is executed or the trader cancels it manually.
Unlike a day order, which expires at the end of the trading session, a GTC order can stay active for days, weeks, or even months.

In simple terms, a GTC order means “keep my order alive until it’s filled or I decide to remove it.”

Core Idea

A Good Till Canceled order allows traders to set a specific price at which they want to buy or sell, without needing to re-enter the order each day.
This type of order is useful for investors who have a target price in mind but are not watching the market constantly.

Brokers and exchanges typically define a maximum duration for how long a GTC order can remain active — often up to 30, 60, or 90 days — after which it may expire automatically.

In Simple Terms

A GTC order stays in the market until one of two things happens:

The order is filled when the price target is reached.

The trader cancels it manually.

It saves time for traders who don’t want to monitor markets daily or keep placing the same order repeatedly.

Example

Suppose a stock is trading at $50, but you want to buy it only if it drops to $45.
You place a GTC buy limit order at $45.

If the stock falls to that price anytime in the next few weeks, your order is automatically executed.
If it never does, your order stays open until you cancel it or until your broker’s time limit (for example, 30 days) expires.

Real-Life Application

GTC orders are widely used by:

Long-term investors who want to buy or sell at specific price levels without watching markets daily.

Swing traders who hold positions for days or weeks and prefer to automate entries or exits.

Portfolio managers who want to gradually build or reduce positions at favorable prices.

They are available on most stock, futures, and forex trading platforms, though some exchanges prefer time-limited equivalents (e.g., “Good Till Date”).

Common Misconceptions and Mistakes

“A GTC order lasts forever.” It remains active only until executed or canceled, but brokers may automatically cancel it after a set number of days.

“It guarantees execution.” It only triggers when the price reaches your target; if it never does, the order remains unfilled.

“It’s risk-free.” If markets move quickly, prices can gap beyond your target, causing partial or unfavorable fills.

“It’s the same as a day order.” A day order expires at the end of the trading session; a GTC order does not.

Related Queries Traders Often Search For

How long does a GTC order remain active?

What is the difference between a GTC and day order?

Are GTC orders available for all asset classes?

Can I modify or cancel a GTC order anytime?

Do GTC orders carry overnight risk?

Summary

A Good Till Canceled (GTC) order is a trading instruction that stays open until it is either filled or manually canceled by the trader.
It offers flexibility and convenience for investors who have target prices but don’t want to monitor markets constantly.
However, traders should review open GTC orders regularly to avoid unexpected executions if prices move suddenly.