Order TIF
Order Time-In-Force (TIF)
Time-In-Force determines how long an order remains active before it is executed or expires. Different TIF options provide flexibility in order execution strategies.
Available Time-In-Force Options
GTC (Good Till Cancel)
Order will continue to work until filled or canceled by the user.
Characteristics:
- Remains in the order book until fully filled
- Does not expire automatically
- User must manually cancel if no longer needed
Best For:
- Patient traders willing to wait for their price
- Building positions at specific price levels
- Long-term limit orders
Example:
| Order | GTC Behavior |
|---|---|
| Buy 10,000 GMYD at 1.90 sCNH | Order stays in the order book. If only 3,000 GMYD fills at 1.90 sCNH, the remaining 7,000 GMYD order continues to wait until filled or canceled. |
IOC (Immediate Or Cancel)
Order will execute all or partial immediately and cancel any unfilled portion.
Characteristics:
- Executes as much as possible immediately
- Any unfilled portion is canceled instantly
- Does not enter the order book
Best For:
- Traders who need immediate execution
- Reducing exposure to price movement
- Entering/exiting positions quickly
Example:
| Order | IOC Behavior |
|---|---|
| Buy 10,000 GMYD at 1.94 sCNH (IOC) | If only 6,000 GMYD is available at 1.94 sCNH or better, 6,000 GMYD is bought and the remaining 4,000 GMYD order is immediately canceled. |
FOK (Fill Or Kill)
Order must be filled immediately in its entirety, or the entire order is canceled.
Characteristics:
- All-or-nothing execution
- Either fully fills immediately or is completely canceled
- Does not enter the order book
- Does not allow partial fills
Best For:
- Large orders that must execute completely
- Avoiding partial fills
- Precision entry/exit strategies
Example:
| Order | FOK Behavior |
|---|---|
| Buy 10,000 GMYD at 1.94 sCNH (FOK) | If 10,000 GMYD is NOT available at 1.94 sCNH or better, the entire order is canceled. Nothing is bought. |
GTE_GTC (Good Till Expired / Good Till Canceled)
Used for trigger orders (Take Profit / Stop Loss). Order can be explicitly canceled, or automatically expire because of conditions.
Characteristics:
- Used exclusively for TP/SL trigger orders
- Remains active until:
- Trigger condition is met
- User cancels the order
- Associated position is closed
- Order expires (if expiration is set)
Best For:
- Take Profit orders
- Stop Loss orders
- Any conditional/trigger orders
Example:
| Order | GTE_GTC Behavior |
|---|---|
| Take Profit at 2.10 sCNH (GTE_GTC) | Order waits until price reaches 2.10 sCNH. If the position is manually closed before trigger, the TP order is automatically canceled. |
Comparison Table
| TIF | Partial Fill | Enters Order Book | Auto-Cancel Unfilled | Use Case |
|---|---|---|---|---|
| GTC | ✅ Yes | ✅ Yes | ❌ No | Standard limit orders |
| IOC | ✅ Yes | ❌ No | ✅ Immediately | Quick execution |
| FOK | ❌ No (All or Nothing) | ❌ No | ✅ Immediately | Large precise orders |
| GTE_GTC | ✅ Yes | ❌ No (Trigger) | ✅ On condition | TP/SL orders |
Usage Recommendations
| Scenario | Recommended TIF |
|---|---|
| Standard limit order | GTC |
| Need immediate execution | IOC |
| Large order, must fill completely | FOK |
| Take Profit / Stop Loss | GTE_GTC (automatic) |
| Market order | IOC or FOK |
| Building position over time | GTC |
| Scalping / Quick trades | IOC |