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| Time In Force |
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A special instruction used when placing a trade to indicate how long an order will remain active before it is executed or expires. Time-in-force options allow traders to be more specific about the time parameters in which an order is activated. This is especially important for active traders.
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Time-in-force options will depend on your broker. Most often, they include options such as day order, good 'till canceled, fill or kill, etc. For example, a day order, as the name implies, is valid for the current trading day. Good 'till canceled orders, on the other hand, will remain live until they are canceled.
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