GTD
Good Till Date

Placing order with your broker, is the first step you take, after you create your 'Trading Action Plan', based on your own technical or fundamental research.

It is a conditional request made to the broker (or the system) to keep the order in system until it gets executed or a predetermined date.

Normally the order gets canceled at the end of the day, if it is not executed. With this attribute attached to the order, the order remains in the system, until a date if not canceled or executed.

Long term investors who want to accumulate large number shares place a buy order at a particular price. There order may not fill on the same day. Every time the market hits their price, some quantity of stock is bought. The order for unfilled quantity remains in the system till the date is reached.

Similarly when they want to sell a large quantity of shares, sell order is placed at the target price. When the price is reached the order gets executed or it remains waiting in the system.

This avoids placing the same order every day, because we will not know on which date our price is reached. This order is good for even the small investor.

If a date is not mentioned, normally the order remains for 30 days. But some brokers allow it to remain up to 90 days. Such orders are called as GTC or Good Till Cancellation, which remains in the system till the maximum number of days, if not canceled.

Compare this with other type of orders:

• All or None Order
• GTC Order
• IOC Order
• Limit Order
• Market Order
• Stop Loss Order
• Stop Limit Order
• Minimum Fill Order
• One Cancels Other Order
• Market on Close Order
• Limit on Close Order
• Market on Open Order
• Limit on Open Order
• Market If Touched Order
• Iceberg Order
• Fill or Kill Order

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