How I use Good-till-Cancelled (GTC) orders to buy great companies at great prices?

My portfolio used to be too tech-heavy. So I started looking outside of tech to diversify. That’s when I came across General Dynamics Corporation (GD)—a name I had heard of before but never seriously considered.

After diving into the company, I was impressed.

General Dynamics has a wide economic moat. For those unfamiliar, it's an aerospace and defence company that builds nuclear submarines and main battle tanks.

I know some people may feel uneasy about investing in defence companies, and that’s fair. But GD also owns Gulfstream, the maker of private jets for the ultra-wealthy. Ultimately, how you view a defence company is a personal matter. This article isn’t here to debate ethics. It’s about strategy.

And here’s what I found: General Dynamics is a great business. Solid fundamentals, strong cash flow, and consistent profitability. But at the time I analysed it, the stock was way overpriced relative to my estimated intrinsic value. Still, I didn’t want to miss out on owning a piece of it—just not at any price.

As a value investor, I know that the market is emotional. Volatility doesn’t scare me. It serves me.

Stocks go up 10% one day, and down 15% the next. Instead of chasing prices or constantly monitoring the markets, I rely on a powerful tool: the Good-Till-Cancelled (GTC) order.

What’s a GTC order?

A GTC order is a limit order that stays open until it’s either executed or manually cancelled. Unlike a Day order, which expires if it’s not filled by the end of the trading day, a GTC order can sit there for weeks or even months, waiting for your target price to hit.

This works perfectly for me.

I knew I wanted to own General Dynamics. It was just a matter of when. I didn’t want to check the market daily or stay up until 1 am Singapore time. So I set a GTC limit order at my target price: $240.

Now, that price seemed ridiculously low at the time. Would it ever hit? Who knows. Not even the 7-figure-salary economists can predict where the market goes. But I stayed patient.

Then the market flinched.

One day, President Donald Trump tweeted that tariffs on Canada and Mexico would go ahead as planned. The market panicked, and GD’s stock dropped like a rock. My GTC order triggered—and just like that, I became a shareholder of General Dynamics at a price I was comfortable with.

A few months later, the market recovered, realising it had overreacted. As of today, I’m up about 30% on that position.

A Good-till-Cancelled limit order at $240 for General Dynamics Corp made a total return of 30% for me.

That’s the power of a GTC order. You don’t chase the market. You let the market come to you.

Layering GTC orders like trenches.

Did I stop at one order? Of course not. I layered my GTC orders like trenches.

I placed separate GTC orders at various price points. If the stock continues to drop, I’ll continue to buy more at better prices.

Beyond GD, I have also set up GTC orders for other companies. But only for those I’ve studied deeply—businesses with strong economic moats that I’d love to own, just not at their current inflated prices.

A list of my Good-till-Cancelled limit orders.

This strategy works well for me as a Singapore-based investor. It frees up my time, removes emotion from the buying process, and allows me to spend more time researching instead of reacting.

Why do I prefer GTC over checking prices daily?

Here’s the thing: you don’t need to watch the market every day.

Spending 10 minutes daily is more than enough. There’s a better use of your time, like uncovering high-quality businesses trading below intrinsic value.

And if you’re living in a different time zone like I am, even better. A GTC order means I can sleep peacefully while my limit orders do the work.

Final thoughts

The market is unpredictable. But your strategy doesn’t have to be. GTC orders allow me to stay disciplined, stick to my valuation, and buy great companies at great prices without the stress.

So here’s my question to you: Do you use GTC orders? If so, how have they worked out for you? And if not, would you consider trying them out in your own investing strategy?

Let me know.