Trading 101 - Order Types: Good Till Cancelled (GTC)
Dec 11, 2020
Good till cancelled orders are orders specific to stock trading as 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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