Good Till Canceled (GTC)
Chapters in this video
- 0:00 The sticky note problem: day orders vanish at the close
- 1:08 Pop quiz: does an unmarked order carry over
- 1:45 Introducing the GTC order as the survival instruction
- 3:29 Side-by-side comparison of GTC and day order lifespans
- 4:01 The two natural exits: fill or customer cancel
- 4:26 Real-world broker and exchange time caps
- 5:00 Active recall: which order survives the close
- 5:51 The "get there, carry over" memory aid
- 6:10 Rapid-fire exam recap
What this video covers
- What a good till canceled (GTC) order is, and why it is also called an open order
- The only two natural exits for a GTC order: a fill or a customer cancel
- Why the day order is the default time-in-force and what happens to it at the closing bell
- How electronic trading platforms treat unmarked orders as day orders, not GTC
- The real-world practical time caps that brokers and exchanges may impose on resting GTC orders
- Why "survives the close" is the primary exam trigger phrase for identifying GTC
- How to apply the memory aid that GTC means "get there, carry over"
Read the full lesson, free
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