You’ll notice that the order windows have an option between “GTC” and “GFD”. GTC means “Good Till Closed”. That means that your order will remain in effect indefinitely until it is either completed or you manually cancel it. If you placed an order that didn’t get triggered today the order will remain pending for days, weeks, months or however long it takes until the market moves to trigger it, or if you simply close it. You should certainly have your stop loss orders set with this option because the market might not reverse today to stop you out, but it could tomorrow, and you want the protection of your stop loss orders indefinitely. Furthermore, certain types of trades might require you place an Entry order that might not get fulfilled today, but you want it to be fulfilled whenever the market eventually does what you expect it to. The GTC is the default option when you are placing orders, and for most purposes you can simply leave it as it is. GFD means “Good For Day”. That means that your order will remain in effect today until it is either completed, you manually exit it, or the day ends. If the market conditions don’t trigger the order today then it will automatically abort and the end of the day. You might want to use this for short-term day-trade Entry orders or for conditions that only apply for today (i.e. for the “Netless Candle” technique you’ll learn later in this eBook).
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