Order Types
Good-Till-Cancelled Order
Definition
What is Good-Till-Cancelled Order?
An order that remains active until executed or cancelled, subject to broker or exchange limits.
Example in practice
How This Looks in Practice
The investorA person or organisation that commits capital with the expectation of a financial return. leaves a limit orderAn instruction to trade only at a specified price or better. open for several weeks.
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Related Terms
Order Types
Market Order
An instruction to buy or sell immediately at the best available prices.
Order TypesLimit Order
An instruction to trade only at a specified price or better.
Order TypesStop Order
An order that becomes active after a specified trigger price is reached.
Market DataOpen Price
The first official or regular-session traded price for a period.