Time In Force

What does 'Time In Force' mean

Time in force is 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.

BREAKING DOWN 'Time In Force'

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.

RELATED TERMS
  1. Fill Or Kill - FOK

    A type of time-in-force designation used in securities trading ...
  2. Canceled Order

    1. A previously submitted order to purchase or sell a security ...
  3. Good 'Til Canceled - GTC

    An order to buy or sell a security at a set price that is active ...
  4. Cancel Former Order - CFO

    An order from an investor to a broker, to cancel a previously ...
  5. Kill

    To cancel a trade or order that has been placed, but not filled. ...
  6. Market-With-Protection Order

    A type of market order that is canceled and re-submitted as a ...
Related Articles
  1. Trading Strategies

    Introduction To Order Types: Duration

    In addition to market, limit, stop and conditional orders, traders can also specify for how long they wish the order to be in effect; that is, how long the order will remain in the market until ...
  2. Forex Education

    How To Place A Trade With FXCM Markets: Placing A Trade

    FXCM's Trading Station makes it very easy for traders to place five different types of orders via either their online or offline platforms. These orders include: Market Order - Orders to ...
  3. Options & Futures

    Brokers and Online Trading: Accounts And Orders

    Types of Accounts Depending on what type of securities you hold, there are four major choices you have when opening an account: Cash Account: The basic account where you deposit cash to buy ...
  4. Investing Basics

    Understanding Immediate-or-Cancel Orders

    A trader places an immediate-or-cancel order to immediately execute a trade in full or in part. Any part of the order that remains unfulfilled is canceled.
  5. Investing Basics

    Understanding Order Execution

    Find out the various ways in which a broker can fill an order, which can affect costs.
  6. Investing Basics

    Explaining Good ‘til Canceled

    A good ‘til canceled order remains in effect until an investor cancels a specific trade or executes it.
  7. Brokers

    How To Place Trades With Interactive Brokers' WebTrader: Market View And Modify An Order

    Orders can also be placed directly from the Market View window. To open the Market View window, click on the Market tab at the top of the WebTrader screen. To create an order in the Market View: ...
  8. Trading Strategies

    Introduction To Order Types: Conditional Orders

    Note: Use a conditional order to place orders that will be submitted or canceled only if specified criteria are met. A conditional order is appropriate when it is important to automate part or ...
  9. Brokers

    Beginner's Guide To Fidelity's Active Trader Pro: Trading

    To access the trade entry screens, from the Main Menu > Tools > Trade > [choose order type]. There are four primary trade entry screens within ATP: Stocks/ETFs & Options: For ...
  10. Forex Education

    Intermediate Guide To MetaTrader 4 - Order Types

    Traders have the option of placing different order types using the MT4 platform. Market OrderA market order is the most basic type of trade order and is used to buy or sell a security at the ...
RELATED FAQS
  1. How do I place a limit order online?

    Learn how a limit order is placed, the types of stocks it is most useful for and the specifications placed with it to suit ... Read Answer >>
  2. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  3. How can I use a buy limit order to buy a stock?

    Learn how a buy limit order is used by an investor who wants to buy a stock at a certain price, and understand how limit ... Read Answer >>
  4. How do I set a strike price in foreign exchange trading?

    Learn about the different order types foreign exchange traders can use to manage positions at certain strike prices and how ... Read Answer >>
  5. What's the difference between a stop and a limit order?

    Different types of orders allow you to be more specific about how you'd like your broker to fulfill your trades. When you ... Read Answer >>
  6. What is the difference between a stop loss order and a limit order?

    Learn how to manage losses and reduce risk in volatile markets while reviewing the differences between stop-loss orders and ... Read Answer >>
Hot Definitions
  1. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  2. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  3. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  4. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  5. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  6. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
Trading Center