A buy or sell order that specifies a price for the security, and keeps the transaction open until the end of the trading day. If a transaction is not made as the desired price is not met by the close of trading, the end of day order will be canceled.
|||Investors who want to keep an order open until it is met can utilize a good 'til canceled order. Unlike an end of day order, a GTC order won't close until it is filled. This requires the investor to pay more attention, since price or exchange rate volatility may make leaving the order open a greater risk.
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