Listen to a Business English Dialogue About Good till canceled orders
Julia: Hey Grace, do you know what “good till canceled orders” mean in business and finance?
Grace: Hi Julia! Yes, “good till canceled orders” are instructions to buy or sell a security at a specified price that remain active until they are executed or canceled by the investor.
Julia: That’s correct, Grace. These orders are convenient for investors who want to set a target price for their trades without having to monitor the market continuously.
Grace: Exactly, Julia. Good till canceled orders can stay open for an extended period, providing flexibility for investors to wait for favorable market conditions.
Julia: Right, Grace. Investors often use these orders when they have specific price levels in mind but are willing to wait for the market to reach those levels.
Grace: Indeed, Julia. It’s a way for investors to automate their trading strategy and take advantage of potential price movements without actively monitoring the market.
Julia: Absolutely, Grace. Good till canceled orders can be placed through brokerage platforms or trading platforms, making them accessible to individual investors.
Grace: That’s correct, Julia. And once the order is placed, it remains active until it is either executed, canceled by the investor, or expires according to the broker’s policy.
Julia: Right, Grace. It’s important for investors to review and update their good till canceled orders periodically to ensure they align with their investment objectives.
Grace: Exactly, Julia. By using good till canceled orders, investors can manage their trades more effectively and potentially maximize their returns in the market.
Julia: Indeed, Grace. It’s a useful tool for investors looking to execute trades at specific prices while maintaining control over their investment decisions.