TradeStation Help
GTC (Good Till Canceled) and GTD/GTW/GTM (Good Till Date/Week/Month) Orders
Unless otherwise specified, orders are considered canceled at the end of the current day's trading session. GTC and GTD/GTW/GTM orders are used to place orders that span more than just the current day's core sessions.
Our proprietary GTC server is designed to automatically resubmit GTC and GTD/GTW/GTM orders as DAY orders at the start of each core session until the order is canceled, filled, or fully expired.
GTC (Good Till Canceled) orders remain in effect from day-to-day until specifically canceled or filled. GTD (Good Till Date) orders remain in effect until the end of the designated day of expiration or until specifically canceled or filled. GTW/GTM(Good Till Week/Month) orders remain in effect until the end of the curent trading week/month or until specifically canceled or filled.
| Order Duration |
Order Description |
| GTC - Good Till Canceled |
Resubmitted into the marketplace every day at the start of the core trading session as a DAY order duration until filled, canceled, or completely expired. GTC orders have a maximum life span of 90 calendar days. If a GTC order is not filled or canceled within 90 calendar days of the day it was initially placed, it will no longer be included in the daily automatic resubmission process. |
| GTD - Good Till Date |
Resubmitted into the marketplace every day at the start of the core trading session as a DAY order duration until filled, canceled, or completely expired. When placing a GTD order you will be required to specify the date the order will be good through. GTD orders have a maximum life span of 90 calendar days. If a GTD order is not filled or canceled by the completion of the specified date, it will be considered completely expired and cease inclusion in the daily automatic resubmission process. |
| GTW - Good Till Week |
Resubmitted into the marketplace every day at the start of the core trading session as a DAY order duration until filled, canceled, or completely expired. If a GTW order is not filled or canceled by the completion of the current trading week, it will be considered completely expired and cease inclusion in the daily automatic resubmission process. |
| GTM - Good Till Month |
Resubmitted into the marketplace every day at the start of the core trading session as a DAY order duration until filled, canceled, or completely expired. If a GTM order is not filled or canceled by the completion of the current trading month, it will be considered completely expired and cease inclusion in the daily automatic resubmission process. |
Fill, Cancellation, and Expiration Conditions
Orders which are either fully or partially filled within a trading day will be considered 'filled' by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
Orders which are requested canceled by the user and issued a 'UROut' and orders which are Admin canceled by TradeStation due to an applicable effective corporate action or reorganization or for any other reason will be considered 'canceled' by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
If the account has a margin call, or has been restricted, duration orders will be will be considered 'expired' by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
GTC/GTD orders which have exceeded a life span of 90 calendar days or GTD/GTW/GTM orders at the completion of their respective good through dates will be considered 'completely expired' by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
Purpose and Usage
The GTC/GTD/GTW/GTM functionality is intended to be a convenience and to alleviate the need to manually resubmit orders every morning at the market open. Although we strongly recommend that you always closely monitor your orders, you are not required to stay connected to the TradeStation Order Execution Network. Your GTC/GTD/GTW/GTM orders will not be automatically canceled because you log off or lose connectivity.
The GTC server is designed to be able to be used in combination with the Stop Server. Using these servers in combination will allow you to enter orders, designed to limit positional loss, persisting multiple days.
The GTC server is designed to accept orders 24/7. This will allow users to enter their orders at their convenience, and if necessary, outside of core market hours or on the weekends. This will also allow users to enter their orders prior to the market opening, or even prior evening by leveraging GTD orders instead of waiting for the session to start and using a standard Day order.
Example
It is 10:00pm ET on Tuesday night, April 22; you would like to place a Day order to be submitted into the marketplace at the open of the session tomorrow morning. You can now do that by entering a GTD order with a good through date of tomorrow, April 23.