GTC

A good-till-cancelled (GTC) order is an instruction that remains active across multiple trading sessions until it is either executed or explicitly cancelled by the trader. Unlike time-limited orders, GTC orders persist in the market, making them useful for longer-term trading strategies or for targeting specific price levels.

For example, a trader expecting a pullback in natural gas prices may place a GTC buy order well below the current market. The order may remain open for days or weeks until market conditions align. GTC orders are also common in less actively traded markets where execution may take time.

While convenient, GTC orders carry additional risk. Market conditions can change significantly, and an order that once made sense may become undesirable. For this reason, firms often require regular review of open GTC orders as part of risk and compliance controls. Proper management of GTC orders is essential to avoid unintended exposures.