How Can a Trader Use a “Good-Til-Canceled” (GTC) Order to Manage a Non-Aggressive Limit Price?

A GTC order remains active until it is fully executed or manually canceled by the trader. By using a GTC instruction with a non-aggressive limit price (one far from the current market price), the trader sets a long-term target for execution.

This allows them to wait patiently for the market to move in their favor without needing to re-enter the order daily. It is a strategy to capture potential price improvement without constant monitoring, though execution is uncertain.