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GTC order, or Good ‘Til Cancelled Order, is a forex order to sell or buy at specified prices.

GTC order differs from the day order in such a way that the latter expires at the end of the day, while the former expires if the one who made the order wishes to cancel the transaction.

In GTC order, the order remains in effect until it is executed or ordered to be canceled. You can also choose the time to execute the order. 

Advantages of opting for a GTC order - One of the best things about GTC order is that you are offered flexibility in holding or canceling an order based on the trends in forex trading.

Through the GTC order, you can just monitor forex trading trends and wait for the best time to execute everything. Unlike the day order, GTC order allows you to hold on to your order for several days. This would give you more time to evaluate the forex trading patterns.

Some facts about the GTC order - Usually, a GTC order is canceled by brokerage firms after 30 to 90 days. Traditionally, a GTC order is placed at price point that’s different from its original price when it was ordered.

A Forex demo account is a type of account offered by some brokers to give you a demonstration of how the forex market works and how to trade. 

When you sign up for a forex demo account, you will be given a certain amount of play money, sometimes $10,000 or even $100,000. You can then use this play money to make virtual trades through your forex demo. 

Read on for some of the advantages of opening a forex demo account. Advantages of forex demo accounts:

1. Forex demo accounts are completely free, meaning, you don’t have to invest your hard-earned cash to give it a shot.

2. You also don’t face any risks with forex demo accounts, because they only make use of virtual play money.

3. A forex demo account allows you to test the trading platform of a particular broker, so you can learn how it works and how to use the platform when investing your real money.

4. Forex demo accounts give you a viable means for creating and testing trading plans and strategies.

5. If you trade on your forex demo the way that you would trade in real life, then you can learn a lot, which you can put to use in live trading situations.

The Dollar gained back some of its losses from the week on Friday, after stocks failed to build upon their big gains on Thursday, after a data release showing the economy grew in the third quarter. 

Since the Dollar was heavily sold off in October, fund managers needed to buy back the greenback to maintain hedge ratios at the end of the month.  As Friday was the last trading day in October, this was widely seen as the reason for the jump and less to do with any prevailing economic data.

The Dollar opened up this week’s Forex session on a down note, reinforcing the theory about Friday’s jump. 

This week can prove to be a crucial one for the US with consumer confidence, factory orders and jobless numbers coming out in the middle of the week. 

Even with the positive growth in GDP last quarter, analysts are concerned as much of the boost can be directly attributed to government sponsored programs which incentivized consumers to buy goods.

At 4AM GMT, the US Dollar is trading down .25% to the Euro to 1.4755, down .07% to the Japanese Yen to 90.0, down .55% to the Canadian Dollar to 1.0784, down .42% to the Australian Dollar to .9034 and down .35% to the Swiss Franc to 1.0225.

The USD/CAD changing direction violently on a daily basis these days. This week’s mix of data could help underline the uptrend or tell us whether we’re stuck in a range of consolidation. This 1.0800 area has been a sticky one in the past. The move well back into the area above 1.0590 suggests that a structural low is in place until proven otherwise.

A move above the local trendline would help underline the bullish case, though 1.10+ is needed to get more traction on a bullish argument. We would also likely need crude oil well back below the recent 77 dollar a barrel mark for that eventuality.