What does GTC EXTO mean?

GTC EXTO stands for Good 'Til Canceled + Extended Overnight. It is a thinkorswim order type that keeps a limit order active across regular, pre-market, after-hours, and overnight sessions until it is filled or cancelled, typically lasting up to 6 months.

What is GTC EXTO in trading?

Good-until-cancelled (GTC) + extended orders are good for up to 180 calendar days at Schwab. Like day + extended orders, GTC + extended orders are only available for limit orders and are active during all equity trading sessions, from 7:00 am to 8:00 p.m. ET.

What is the difference between GTC Ext and GTC Exto?

Extended hours: 13-hour Day or GTC order (Day orders expire at 8:00 p.m. ET each day.) EXT 13h: 13 hours continuous Day or GTC order (Day orders expire at 8:00 p.m. ET each day.) EXTO 24h: 24 hours continuous Day or GTC order (Day orders expire at 8:00 p.m. ET each day.)

What does exto mean in thinkorswim?

The overnight trading session is available exclusively on thinkorswim trading platforms. Log in to thinkorswim and select EXT (pre-market and after-market) or EXTO (extended hours + overnight) to place an overnight trading session order. Only select securities qualify for an extended hours overnight session.

What does GTC expiration mean?

Key Takeaways. A Good 'Til Canceled (GTC) order stays active until executed or canceled, but most brokers set an expiration of 30 to 90 days. GTC orders allow investors to set buy or sell limits without daily monitoring, though they come with risks of executing during temporary market volatility.

After Hours and Overnight Trading on thinkorswim®

Is it difficult to sell OTC stocks?

Lack of liquidity: Many OTC stocks are so thinly traded they can be hard to sell when you want—never mind at your desired price. Potentially higher volatility: Because OTC stocks trade in relatively small amounts, a single purchase or sale can result in dramatic price moves.

How long do GTC orders last?

Good-'til-canceled (GTC) + extended limit orders are active for all equity trading sessions, from 7 a.m. to 8 p.m. ET, and are active for up to 180 days unless executed or canceled.

What is the 3 5 7 rule in day trading?

3 = Do not risk more than 3% of your total capital on a single trade. 5 = Keep your total exposure to open trades less than 5%. 7 = Aim for at least a 7:1 profit-loss ratio on each trade. For example, if you risk $500, your potential profit should be around $3500.

What does GTC mean in thinkorswim?

GTC orders are “good 'til canceled” and continue until they fill or are canceled. EXT orders also try and fill during extended trading hours.

What happens if I buy stock after the market closes?

After-hours trading lets investors buy and sell stocks after regular hours, but orders may fill slowly or not at all due to lower volume. After-hours trading allows investors to buy and sell stocks outside of regular market hours. This typically occurs before or after the standard trading session.

What is the 90% rule in trading?

The "90 Rule" in trading, often called the 90-90-90 Rule, is a harsh market observation stating that roughly 90% of new traders lose 90% of their money within their first 90 days, highlighting the high failure rate due to lack of strategy, poor risk management, and emotional trading rather than market complexity. It serves as a cautionary tale, emphasizing that success requires discipline, a solid trading plan, proper education, and managing psychological pitfalls like overconfidence or revenge trading, not just market knowledge. 

Is 5% a good trailing stop-loss?

Choosing a 15% or 20% trailing stop-loss strikes a balance between allowing your investments to grow and protecting you from downturns. Too Tight: A stop-loss set too tight (like 5% or 10%) might trigger too often during normal market fluctuations, causing you to sell too early.

Why don't professional traders use stop-loss?

Using Stops as a Crutch

Many retail traders, particularly those still refining their trading stop loss strategy, use stops as a safety blanket. They feel, “I'll just put a stop here because it feels safe.” But feelings aren't strategy! Most pros don't use stops for emotional comfort.

Is GTC or Day better?

When deciding between a GTC order and a Day Order, it comes down to strategy and risk tolerance. A GTC order remains active until it's executed or canceled—suited to “set and review” tactics. A Day Order expires at the close—better for intraday styles.

Can I buy stocks after 3.30 PM?

Post-market session (3:30 PM - 4:00 PM)

During this time, exchanges do not allow modifications, cancellations, or placement of new orders. 3:40 PM - 4:00 PM: Market orders can be placed during this period and are executed at the day's closing price.

What is GTC EXTO on Thinkorswim?

GTC+EXTO. GTC + EXTO orders are valid for all sessions Sunday through Friday until filled or canceled. Blast All. Submits up to eight orders simultaneously, each independent of the others.

Is GTC better than day?

GTC (Good-Till-Canceled): Remains active until executed, canceled, or expires (typically 30–90 days). Ideal for swing trading and long-term targets. Day Orders: Expire at market close if unfilled. Best for intraday strategies and avoiding overnight risk.

Are stop-limit orders good for beginners?

Stop-loss orders are useful for setting a price to exit a position if the market moves against you, and stop-limit orders combine the benefits of stop and limit orders by setting both a trigger price and a limit price. For beginners, it's often best to start with market and limit orders to get a feel for the market.