November 04, 2025
4 mins read
When I first started looking into trading, I was puzzled by the number of order types. One of them was the Good Till Date order, or GTD order. Think of it as a way to set both a price and an expiry date for your trade. The order remains open until that date, unless it is executed or cancelled. It sounds simple, but in practice, it gives you more breathing space. GTD orders can help you plan more effectively without constantly staring at the screen, especially in markets where prices change quickly.
Before utilising GTD orders, it is helpful to analyse how they work in a real-world situation. Here is the basic flow:
You choose a price and an expiry date. The price may be above or below the current market price.
Your GTD order remains until the expiry date. If the market approaches your price, the order is in line to be executed.
If the price does not reach your level by the expiry, the order will cancel automatically.
You are not bound. The order may be changed or cancelled at any time prior to expiry.
A buy GTD order is used when you want to purchase a stock at your chosen price within a given time. It helps if you expect the price might drop, but you don't want to check every day.
A sell GTD order is for setting a target price at which you would like to sell. It works well if you aim to secure profits without tracking the market round the clock.
Plan Ahead Approximately: When using GTD orders, you can plan trades ahead of time and not miss opportunities. Typical applications are limited to planning ahead for fewer tradable instruments and constantly requiring you to watch and react to market price swings. With GTD orders, you can choose price limits or stops ahead of time and plan when to exit (i.e. expiry date),
Flexibility: While orders have an expiry date, you can change or cancel them before the expiry date. Do not watch the markets unnecessarily.
Consistency: If you have a certain trading strategy that you would like to trade consistently, GTD orders allow trades to happen autonomously without having to constantly manage your trades daily.
Risk Management: Because you set the price, you can better manage your risk, especially the markets that have 'spikes'.
In India, some brokerage firms offer GTD orders, but not all do. It is prudent to check with your own broker before you use GTD orders. GTD orders are helpful if you want to set a price and let it ride until the expiry date, without having to think about it on a daily basis. For long-term investing, GTD orders can lock in a target price.
Just keep in mind, some platforms charge snowglobe fees on GTD orders. Knowing this in advance will help you not be shocked later.
If the price does not reach your target by the expiry date, the order will be cancelled without being executed.
Sharp movements in price can affect whether your order goes through, leading to missed chances.
Even though they reduce daily effort, GTD orders still need occasional checking to see if they align with your plan.
Some brokers add charges for GTD orders, which increases overall trading costs.
Feature | GTD Orders | Market Orders | Limit Orders |
Duration | Valid until the specified expiration date | Executed at the market price and immediately | Processed at a defined price once that price is reached |
Flexibility | This can be changed or cancelled before expiry | It cannot be modified once everything is set in motion | This can be changed before the execution of the exchange |
Usage | Good for planned trades over time | Better for immediate execution | Works just right for trades at specific prices |
GTD orders give traders a real-world way to plan trades without having to constantly reference quoted prices. They have their use at times when a trader either must hit a price or follow a plan. Like everything, they carry risks from volatility, execution, and/or fees associated with not completing trades. The important thing is to understand how they work and what their fit is in your trading style.
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GTD stands for Good Till Date, an order type that remains active until a specific date unless fulfilled or cancelled.
A GTD order is valid until the expiry date set by the trader or until the order is executed.
Yes, you can cancel or modify a GTD order anytime before the expiry date.
GTD orders allow you to plan trades in advance, maintain control over trading activities, and align trades with a specific strategy.
Yes, risks include non-execution of the order, market volatility, and potential broker fees associated with the order type.
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