Good Till Cancelled (GTC) Order

A Good Till Cancelled (GTC) order is a limit order but with a long validity and with an option of choosing the expiration date. The GTC order can be an order for buying or selling a stock and will be good until it is executed or cancelled. The general limit for such orders is 30-60 days, after which the order expires, if not updated. Some brokers may allow a GTC order for longer periods, up to a maximum of 365 days. A normal limit order expires at the end of the trading day, but in the case of GTC order, the broker will place a new order every day on client’s behalf till the time it is executed (or cancelled).

Benefits of GTC orders

Good Till Cancelled orders have certain benefits as compared to limit orders, which are :
a) They help with buying stocks at a price as per client’s requirement
b) GTC order lets the client wait for the right price and gives sufficient time
c) GTC order can be completed in stages, which means buying available quantity at the price specified and then buying balance quantity again if the required price point is reached.
d) GTC order can be placed for both buying and selling,in stages