What is Time-In-Force?
An order's time-in-force option determines the time frame in which the order would execute. There are four different time-in-force options you can choose from within the Entry Order or Market Order window in Trading Station:
- Day – activates your Entry Order for the current trading day onlyDay Entry Orders cancel automatically at 5 pm ET (New York).
- GTC (Good ‘Til Canceled) – ensures that your entire order is executedGTC orders may be broken up into partial orders if sufficient liquidity isn’t available to fill the entire order at the best available price.
- IOC (Immediate or Cancel) – fills as much of your order as possible at the best available priceIf the entire order cannot be filled at the best available price, the remainder cancels.
- FOK (Fill or Kill) – when you want your entire order filled at the best available priceIf the entire order cannot be filled at the best available price, the entire order cancels (no partial orders).