Good-Till-Date (GTD) Order

Good-Till-Date (GTD), also known as Good-Till-Time, orders are limit orders to buy or sell products, which - if not filled completely - remain valid in the market until a specified date. GTD orders suit long-term traders and investors who want to bye or sell stocks on reaching specific price levels and traders who lack time to regularly monitor price movements.

Good-Till-Date orders are available for trading most financial instruments including stocks, futures, options and bonds. If not filled completely, GTD orders are cancelled at the close of the market on the specified day (expiration day). Many brokers also let the traders to set a specific (intraday) time for canceling the order. GTD orders are also cancelled if the order is completely filled before the specified date and if the trader cancels the order.

Different brokers have different time limits for order expiration. For most brokers, maximum life-span of a GTD order is 30 days; but there are some brokers who keep orders valid for up to one year. Good till date orders less suit active traders who constantly watch the market. Order execution charges associated with GTD order can vary with brokers; and for most is usually on the higher side.

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