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What is GTC order?

An order that uses the Good-Til-Canceled (GTC) time in force will continue to work until the order fills or is canceled.The ability to enter a bid well below the prevailing trading price for most asset classes, or an offer higher than its current level, allows an investor to place a resting order for days, weeks or months in advance without having to repeat the process each day. The GTC order type allows traders to pinpoint in advance levels at which they would like to enter or exit the market.

 
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