Good ‘til Canceled (GTC) Definition
Good ‘til Canceled is a property of certain pending orders which do not get sent to the market immediately, such as Market Orders. Usually, in trading platforms like cTrader you will see Good ‘til Cancelled abbreviated to GTC. Examples of such pending orders are a Limit Order or a Stop Order. They are considered pending because they are not executed immediately, but rather wait until the desired price triggers them.
The term Good ‘til Canceled means that the order remeans pending until it’s cancelled by the trader (you) or it’s triggered and sent to be executed. In cTrader and as a general rule in Forex trading GTC is usually the default Time in Force used for pending orders.
Comments are closed.