Sirwin
Sirwin

Trading 101 - Order Types: Good Till Cancelled (GTC)

By TradingBull | TradingBull_articles | 5 Feb 2021


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Good till cancelled orders are orders specific to stock trading. They specify that an order has to remain open, even after the market has closed by day-end (Usually all orders are automatically cancelled when the stock market closes).

Some cryptocurrency exchanges may have specific policies regarding open orders with an automatic cancellation after a set period of time (30 days). Placing a GTC order ensures it remains perpetually open on these exchanges.

Pros: Good for traders that want to buy/sell at low/high prices and are not often on the exchange.

Cons: Lockup of liquidity (balance’s funds allocation)

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TradingBull
TradingBull

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TradingBull_articles

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