GTD
Good Till Date

GTD or Good Till Date (or Day) is an attribute attached to a buy or sell order. They are also known as GTT orders, meaning Good Till Time.

After you create your 'Trading Action Plan', based on your own technical or fundamental research, next step you are going to take is, placing your order with your broker. Before you can start buying and selling stocks, you must know the different types of orders. You must be aware as to which order is appropriate and its implications.


What is GTD Order or Good Till Date Order?

GTD Order or Good Till Date Order is a conditional request made to the broker (or the system) to keep the order in system till a predetermined date, unless it is executed or cancelled.

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.

When to use GTD Order?

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.

Without the parameter of date, the order can be made to remain in the system for a long time. Normally it 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 or executed.

Compare GTD Order with other type of orders:

  • All or None Order
  • It is a conditional request made to the broker (or the system) to buy or sell a required number of shares at particular price, only if full quantity of shares are available.
  • GTC Order
  • It is a conditional request made to the broker (or the system) to keep the order in system until it gets executed or canceled.
  • IOC Order
  • Immediate or Cancel is a conditional request made to the broker (or the system) to execute the transactions immediately or to cancel it.
  • Limit Order
  • Limit Trading Order is a conditional request made to the broker (or the system) to buy or sell a stock at a particular price or at a better price.
  • Market Order
  • Order to buy or sell at market is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price.
  • Stop Loss Order
  • Order at stop is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price, once the price crosses a predetermined trigger price.
  • Stop Limit Order
  • Order at stop limit is a conditional request made to the broker (or the system) to execute the transactions with the immediate best available price, once the price crosses a predetermined trigger price but with in a predetermined limit price.
  • Minimum Fill Order
  • This is a conditional request made to the broker (or the system) to execute the transactions only when a minimum number of shares are available.
  • One Cancels Other Order
  • This is a conditional request made to the broker (or the system) to execute one of the two orders, which ever meets the required parameter first, and cancel the other.
  • Market on Close Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at the closing price.
  • Limit on Close Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at the closing price but with in a limit price.
  • Market on Open Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market opening price.
  • Limit on Open Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market opening price but with in a predetermined limit price.
  • Market If Touched Order
  • This is a conditional request made to the broker (or the system) to buy or sell a stock at what ever the market price only after the stock trades at particular predetermined price.
  • Iceberg Order
  • This is a conditional request made to the broker (or the system) to buy or sell a large required quantity of stock, but in smaller predetermined quantity.
  • Fill or Kill Order
  • This is a conditional request made to the broker (or the system) to execute the transactions only if the full quantity of shares are available, or else to cancel the order.




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