What it means
Good-Till-Cancelled is a time-in-force (TIF) instruction that keeps an order alive indefinitely. The order rests in the broker's order management system until it fills, you cancel it, or the broker's max-age policy expires it (typically 90-180 days). Standard alternative to DAY (expires at session close) and GTD (expires on specified date).
Why it matters
GTC is the right TIF for limit orders at planned levels you expect price to revisit over days or weeks. Without GTC, the order has to be re-submitted each session, creating operational risk that the order is forgotten or mistyped.
How to use it
Use GTC for: target-level entries on swing setups, target-level exits beyond intraday range, scale-in/out limit ladders. Avoid GTC on stops (use server-side stop orders instead) and on news-event entries (where the level expires once the event passes).
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