Day Order

What does it mean?
Any order to buy or sell a security that automatically expires if not executed on the day the order is placed.

In Other Words...
A day order will not be executed if the limit or stop order prices were not met during the day. A way to increase the life of an order is to order securities on a 'good 'till cancelled' basis, where, as the name implies, the trade will not expire until it is cancelled or until it reaches a maximum time limit set by the brokerage.

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Related Terms
Good 'till Cancelled | Limit Order | Order | Stop Order

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