Great This Week (GTW)

What Is Good This Week (GTW)?

Great this week (GTW) is a type of order that stays active for the rest of the week where it is issued. On the off chance that the order isn't executed prior to the furthest limit of the week, it will be naturally canceled.

Seeing Good This Week (GTW)

A GTW contingency is regularly added to a limit or stop order. GTW orders are not commonly found on discount brokerage platforms. All things considered, they are commonly offered by full-service brokers, which permit greater customization of their clients' trades.

GTW offers a center ground between orders that last for the current trading day versus those lasting endlessly. In any case, investors who use GTW orders must be careful to guarantee that their order isn't clashing with important events that could influence the price of the security they are trading.

For instance, assume it is Wednesday and the investor accepts that a Monday news release will make a given stock rise. In the event that the investor wishes to buy the stock before the news is released, they might place a GTW order. The order would then be substantial for the rest of Friday yet would become invalid in the event that it isn't executed before the finish of that day. Assuming the investor neglects to understand that the order was not executed, they might pass up their anticipated gain the next week.

Most traders are probably not going to have utilized GTW orders before, since they are not commonly offered by brokers. All things being equal, most brokers offer market orders, limit orders, and Good Until Canceled (GTC) orders. GTC orders are like GTW orders, then again, actually they will stay active endlessly except if they either execute or are canceled by the investor. In our above model, a GTC order might have been beneficial for the investor on the grounds that the order might have been executed on Monday prior to the news being released.

GTW Example

Assume you are a stock market investor who buys individual securities utilizing a full-service brokerage account. As a full-service client, you approach several order types, including market orders, limit orders, GTW orders, and GTC orders.

You are persuaded that shares in XYZ Corporation are probably going to rise sooner rather than later, in view of an anticipated product announcement. You have chosen to purchase shares in XYZ in anticipation of this news, yet are uncertain of the best approach.

Taking into account your options, you note that a market order would include determining the number of XYZ shares you wish to purchase and afterward purchasing the shares at the best accessible price. Notwithstanding, in the impossible event that market sentiment abruptly changes around the time that you place your order, you could wind up paying fundamentally more than you expected.

Limit orders, then again, would permit you to indicate a maximum price you will pay for the security. Then again, that restriction makes it doubtful that the order will essentially be executed.

Lastly, you consider GTW and GTC orders. You recollect that GTW orders would act as market orders yet would last for the rest of the week you place the trade. GTC orders might actually last even longer since they have no set expiration date by any means.

Considering this large number of facts, you choose to place a GTW order and make a note in your calendar to twofold check whether the trade has been executed on the last day of this current week.

Features

• More normal order types incorporate market orders, limit orders, and Good Until Canceled (GTC) orders.
• A decent this week (GTW) order is one that lapses naturally toward the finish of the current week.
• GTW orders are somewhat rare, as they aren't commonly offered on discount brokerage platforms.