Day Order


DEFINITION of 'Day Order'

An order to buy or sell a security that automatically expires if not executed on the day the order was placed. A day order is an order that is good for that day only. If it is not filled it will be canceled, and it will not be filled if the limit or stop order price was not met during the trading session. It is one of several different order duration types that determine how long the order will be in the market before it is canceled. For example, a "good till canceled (GTC)" order will remain active until it is manually canceled, while an "immediate or cancel (IOC)" order fills all or part of an order immediately and cancels the remaining part of the 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.

  1. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  2. At Limit

    An order that sets a maximum limit on the buy price and/or a ...
  3. End Of Day Order

    A buy or sell order that specifies a price for the security, ...
  4. Order

    An investor's instructions to a broker or brokerage firm to purchase ...
  5. Stop Order

    An order to buy or sell a security when its price surpasses a ...
  6. Market-On-Close Order - MOC

    A non-limit (market) order executed as close to the end of the ...
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