GTC Order (Good Till Cancelled)
A GTC order remains active until it executes or you manually cancel it. Unlike day orders that expire at market close, GTC orders can sit for days, weeks, or months.
Understanding the Concept
GTC orders let you set and forget. You identify a level you want to buy or sell at, place the order, and go live your life. Perfect for swing traders and investors who aren't watching charts constantly. The risk is forgetting about old orders. You might set a GTC buy at $30,000 three months ago, forget about it, and suddenly own Bitcoin at a level that no longer makes sense given new market conditions. Review your open GTC orders periodically. Most exchanges limit GTC duration to 30-90 days.
Real-World Example
You want to buy Ethereum at $2,000, but it's currently at $2,500. You place a GTC limit order at $2,000. Three weeks later, a market crash drops ETH to $1,900—your order fills and you got your price.
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