Education
Day Order or Good-Till-Cancelled? Order Duration Matters
By Walid Mograbi · · 2 min read
How long an order stays in the market is part of the plan, not a minor technical detail.
Why this lesson matters
How long an order stays in the market is part of the plan, not a minor technical detail.
The core idea
- A day order expires at the end of the session if it is not filled, so do not assume it will remain active the next day.
- A good-till-cancelled order stays active longer, which requires intentional review rather than being forgotten.
- Order duration affects entry discipline just as much as the target price itself.
Practical example
A trader places a buy order on Friday as a good-till-cancelled order and forgets it, then gets filled days later under very different market conditions.
Common mistakes to avoid
- Assuming every order stays active until the next session.
- Using a long-duration order without planning to review it.
- Focusing only on price while ignoring order duration.
What to do next
It connects the entry decision to execution duration so your order does not keep working outside your plan.
Important caution
Do not leave an order open just because you forgot about it; review is part of risk management.
Further reading
- https://www.investor.gov/introduction-investing/investing-basics/how-stock-markets-work/types-orders
- https://www.investor.gov/index.php/introduction-investing/investing-basics/how-stock-markets-work/executing-order
- https://www.finra.org/investors/investing/investment-products/stocks/order-types
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