Good 'Til Canceled (GTC) is a type of order an investor may place to buy or sell a security that remains active until either the order is filled or the investor cancels it. Brokerages will typically limit the maximum time you can keep a GTC order open (active) to 90 days.A GTC order can be helpful if you want to make sure your trade happens, but don't have the time or inclination to babysit your computer all day long. It's also useful for investors who like to dollar-cost average their buys over time, since they can set up a GTC buy order and forget about it until their desired stock quantity has been reached.On the downside, there's always some risk that prices could move against you while your GTC order is pending, so be sure you're comfortable with that possibility before using this type of trade. And finally, remember that not all stocks are eligible for GTC orders - contact your brokerage if you're not sure whether yours qualifies.
