Good Till Canceled (GTC) is an order type that remains active until it is either executed or manually canceled by the trader. Unlike day orders that expire at market close, GTC orders can remain open for weeks or months, allowing traders to maintain positions in the market without daily order management. Most brokers set maximum time limits (typically 30-90 days) for GTC orders.

GTC orders are useful for longer-term trading strategies, target price levels, and stop-loss orders where traders want to maintain market presence without constant monitoring. However, GTC orders require careful management to avoid execution at inappropriate times due to changed market conditions or forgotten positions. Many traders prefer day orders for active trading and GTC orders for longer-term strategies.

Real-world example: An investor places a GTC order to buy Google stock at $2,800 (currently trading at $2,950), allowing the order to remain active for 60 days until either filled at the target price or manually canceled.