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Definition of 'Day-Around Order'
An order that cancels and replaces a previously submitted day order, producing a new request with an adjusted volume or price limit. The term is primarily used by traders in the general equities market. As with a day order, the day-around will expire by the end of the business day.
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Investopedia explains 'Day-Around Order'
A day-around order simplifies the cancellation and reorder process in trading by combining a cancel order form with a day order. For example, let's say that an investor submits a day order to purchase stock XYZ with a limit at $50. The investor hears some detrimental news surrounding company XYZ and wants to lower the limit on the day order. Instead of submitting a cancel order form and submitting another day order, the investor can simply submit a day-around order with a new limit price.
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Search results for 'Day-Around Order'
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http://www.investopedia.com/articles/forex/09/using-forex-automation-software.asp
... or potential topside or bottom breakthroughs that indicate a trade may be in order. ...
That means that night or day, around the clock, the program is at work and ...
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