Good Til Canceled (GTC)
An order that is indefinitely active until filled or canceled.
This is an order condition that is attached to most order types and extends the maturity of the order indefinitely. By default, unless otherwise specified, most order types are already natively GTC.
The main benefit of this property is that the order remains permanently active, and it can execute its underlying purpose at any moment wherein it becomes viable. The drawback is that there may be instances when it would not be desirable for the order to be active, yet unless the user remembers to cancel the order, it would still be executed, irrespective of the broader macro picture.
How it is used
Cornelius wishes to buy AXO at $9.50, which is 5% lower than its current price. He doesn’t know when this might happen, as momentum has been very positive for the asset. But he is patient, so he sets aside $1,000 worth and places a limit order with a GTC condition to purchase AXO tokens at $9.50.
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