What is the Forex Validity Period of GTC Orders?
2023-06-05
Summary:
The full name of GTC is Good Till Cancelled, which refers to setting the validity period when placing an order. GTC orders are long-term valid orders, unlike general limit price or stop loss orders, which can be valid for a few days, weeks, months, or even longer.
GTC is a type of order in the forex market, also known as Good Till Cancelled, meaning "valid until cancelled".
GTC orders refer to setting a validity period when placing an order. If the order is not executed within this time range, it will remain valid until revoked. GTC orders are long-term valid orders, which are different from general limit price or stop loss orders. Limit or stop loss orders are usually only valid for a certain period of time. If the order is not executed within this period, it will be automatically cancelled.
In the forex market, GTC orders are usually used to set long-term trading strategies, such as holding a certain currency pair for a long time or executing a certain transaction at a certain price point. The validity period of GTC orders can be several days, weeks, months, or even longer. Investors can set the validity period of GTC orders at the time of placing an order, or withdraw orders at any time according to market changes afterwards.
It should be noted that the execution of GTC orders is not 100% guaranteed. Market changes or technical failures of trading platforms may lead to orders being unable to be executed. Therefore, investors need to carefully consider when using GTC orders, reasonably set the validity period and price point of the order, and keep an eye on market dynamics and adjust trading strategies in a timely manner.
【 EBC Platform Risk Reminder and Disclaimer 】: There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice.
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