A set time after which a pending order is automatically cancelled if not triggered. Understanding exactly how this order type behaves is essential before placing live trades, since it determines precisely when and at what price a position enters or exits the market.
A set time after which a pending order is automatically cancelled if not triggered. Understanding exactly how this order type behaves is essential before placing live trades, since it determines precisely when and at what price a position enters or exits the market.
It prevents outdated orders from executing under changed market conditions. For beginner traders in particular, grasping this concept early helps avoid common, sometimes costly misunderstandings further down the road.
Configurable as day-only, GTC, or a specific date/time. It shows up in day-to-day trading through price charts, broker platform data, or news commentary, and recognizing it quickly can meaningfully shape decision-making in the moment.
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