Unless otherwise specified, orders are considered canceled at the end of the current days trading session. GTC and GTD orders are used to place orders that span more than just the current days core and/or extended sessions.
Our proprietary GTC server is designed to automatically resubmit GTC and GTD orders as DAY orders at the start of each core session (i.e. 9:30am ET) and GTC+ and GTD+ orders as DAY+ orders at the start of each extended pre-market session (i.e. 8:00am ET) until the order is canceled, filled, or fully expired. This includes GTC/GTD Orders placed for both listed and Nasdaq stocks.
GTC (Good Till Canceled) orders remain in effect from day-to-day until specifically canceled or filled. GTD (Good Till Date) orders remain in effect until the end of the designated day of expiration or until specifically canceled or filled.
Fill, Cancellation, and Expiration Conditions
Orders which are either fully or partially filled within a trading day will be considered filled by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
Orders which are requested canceled by the user and issued a UROut and orders which are Admin canceled by TradeStation due to an applicable effective corporate action or reorganization or for any other reason will be considered canceled by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
GTC/GTD/GTC+/GTD+ orders which have exceeded a life span of 90 calendar days or GTD/GTD+ orders at the completion of their respective good through dates will be considered completely expired by the GTC server and will no longer be eligible for inclusion in the daily automatic resubmission process.
Purpose and Usage
The GTC/GTD functionality is intended to be a convenience and to alleviate the need to manually resubmit orders every morning at the market open. Although we strongly recommend that you always closely monitor your orders, you are not required to stay connected to the TradeStation Order Execution Network. Your GTC/GTD/GTC+/GTD+ orders will not be automatically canceled because you log off or lose connectivity.
The GTC server is designed to be able to be used in combination with the Stop Server. Using these servers in combination will allow you to enter orders, designed to limit positional loss, persisting multiple days.
The GTC server is designed to accept orders 24/7. This will allow users to enter their orders at their convenience, and if necessary, outside of core or extended market hours or on the weekends. This will also allow users to enter their orders prior to the market opening, or even prior evening by leveraging GTD/GTD+ orders instead of waiting for the session to start and using a standard Day/Day+ order.
It is 10:00pm ET on Tuesday night, April 22, 2003; you would like to place a Day order to be submitted into the marketplace at the open of the core session tomorrow morning. You can now do that by entering a GTD order with a good through date of tomorrow, April 23, 2003.
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