What Is a Good ’til Cancelled Order?
A good ’til cancelled (GTC) order is an instruction that stays active until it is either filled or manually cancelled by the trader. Unlike an order that expires at the end of the trading day, a GTC order remains in the market across sessions, waiting for the price to reach the specified level.
How a GTC Order Works
A trader sets a GTC order at a chosen price, and it remains pending until the market trades at that level or the trader removes it. This makes it useful for entering or exiting at a target price without needing to re-enter the order each day. Many brokers apply a maximum duration, after which the order is automatically expired.
GTC Versus a Day Order
| Feature |
GTC Order |
Day Order |
| Duration |
Stays active across days |
Expires at session end |
| Re-entry |
Not required daily |
Must be re-entered each day |
| Best suited to |
Longer-term price targets |
Same-day trading |
Keeping Track of GTC Orders
Because a GTC order can sit in the market for a long time, it may be triggered during conditions the trader did not anticipate, such as a gap or a volatile news release. An order left in place and forgotten can execute at an inconvenient moment. Reviewing open orders regularly helps keep them aligned with current market views.
Why GTC Orders Are Useful
The GTC order gives traders a way to wait patiently for a price without constant monitoring. Knowing how long an order stays live, and checking the broker’s expiry rules, keeps its behaviour predictable. On VT Markets platforms, order types such as GTC form part of the everyday toolkit for planning entries and exits.
Risk Warning:Trading CFDs involves significant risk and may not be suitable for all investors. Losses can exceed your initial deposit. Please ensure you fully understand the risks involved before trading.
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