Day orders and good till canceled orders are two order types that you should be familiar with as a trader. They each have their advantages.
Good Till Canceled (GTC). This type of order stays in the market until it is filled or until you cancel the order. Many of the exchanges will not accept this type of order.
Good Till Canceled (GTC)
A trading order that remains in force until the trader cancels it.
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GTC (Good till canceled)
An order to buy or sell at a fixed price. It holds until executed or canceled.
Gross profit margin ...
-GTC (Good Till Canceled) — order to buy or sell of a currency with a fixed price or worse. The order is alive (good) until execution or cancellation.
GTC (Good Till Canceled)
The order stays in the market indefinitely, until it is filled or the trader decides to finally cancel it.
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Good Till Canceled (GTC)
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Related: Three-phase DDM GTC (Good till canceled) An order to buy or sell at a fixed price. It holds until executed or canceled.
With this type of order, the trader instructs their broker to sell or buy a contract only if the price reaches a certain value. Limit orders can be marked "good till canceled" or they can be considered good during a specific trading session.
 See also: Order, Market, Broker, Trading, Trader
  
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