A good ‘til date (GTD) order is an instruction to execute a trade that remains open until a future date specified by the trader. Once the date is reached, the order is cancelled if it has not been fulfilled or canceled already.
When should you use a good ‘til date order?
GTD orders are often used by long-term traders for orders containing a large amount of securities. They also prevent a trader from needed to re-enter the trade at the start of each new day. You should use a GTD order when you would enter a good ‘til canceled (GTC) order but believe your trading priorities will change after a certain date, at which point you would rather execute other trades.