An order to trade at a specific price. It remains open until trader cancels. Hence “Good ’til cancelled.” Also known as GTC.
Good ’til cancelled order
Related Terms
-
A binary option is a type of options contract in which the payout will depend entirely on the outcome of a “Yes or No?” or “True or False” proposition. Don’t be intimidated! Its name may sound complicated, but binary options are arguably a simpler way to trade than traditional options or currencies. Just like traditional […]
-
An order block is an area where there has been a large concentration of limit orders waiting to be executed.
-
Slippage occurs when an order is filled at a price that is different from the requested price. The difference between the expected fill price and the actual fill price is the “slippage”. Whenever...
-
A working order is a general term for either a stop order or a limit order to open. Stop and limit orders are together known as working, or pending orders. Essentially, they’re instructions for a...
-
A passive order is a trading order in which the order price is different from the market price. An order is passive when traders set a price that the currency pair must reach before they go ahead...