Dictionary : GTC
Good 'Till Canceled - GTC
An order to buy or sell a security at a set price that is active until the investor decides to cancel it or the trade is executed. If an order does not have a good 'till canceled instruction then the order will expire at the end of the trading day the order was placed.
In most cases GTC orders are canceled by brokerage firms after 30-90 days. These type of orders are traditionally placed at price points away from the price of the stock at the time the order is placed. For example if a stock you held was currently $40 but you believe it will go to $50 at which point you would sell then you would use a GTC order. Once the GTC order to sell is placed if the price of the stock reaches $50 at any point over the next few months your shares will be sold.
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