 |
Investopedia explains 'Day Order'
Many trading platforms have "day orders" (often appearing simply as "day") as the default order duration. Unless the trader specifies a different time frame for the expiration of the order, any order to buy or sell a security would be a day order by default. These orders are only good during the current trading day, and are automatically canceled at the end of the day if they have not yet been filled. Most trading platforms support a wide variety of duration types, including those that are based on an action (such as Fill-Or-Kill) and durations that are based on a specified time period: one, three or five minutes.
|
