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Time in Force

In short

How long an unexecuted order remains active — day, GTC, IOC, etc.

Time in force tells the broker how long to keep trying. 'Day' means cancel at market close if unfilled. 'GTC' (Good Till Cancelled) stays open indefinitely. 'IOC' (Immediate or Cancel) fills what it can right now and cancels the rest.

TIF options control order duration. DAY orders expire at market close. GTC (Good-Till-Cancelled) persist until filled or manually cancelled (typically 60-90 days max). IOC fills immediately at the available price and cancels any unfilled portion. AON (All-or-None) fills only if completely filled.

Related concepts

  • Limit Order — A limit order says 'buy this stock, but only if the price drops to $50 or less.' You control the price but risk not getting filled if the stock never hits your target.
  • Market Order — A market order says 'buy this stock right now at whatever price it's selling for.' You get filled immediately but might pay slightly more than you expected, especially for less liquid stocks.
  • Market Hours — US stock markets are open Monday–Friday, 9:30 AM – 4:00 PM ET. There's also pre-market (4 AM – 9:30 AM) and after-hours (4 PM – 8 PM) trading, but with much less volume and wider spreads.
  • Order Status — After placing an order, it goes through stages: pending (just submitted), open (waiting to fill), partial (partly filled), filled (complete), or cancelled. You can monitor these in your order history.