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Username: Andrew

Rating:
Guru Stars

Asked to: Goro Yang

Date Created: 15 Jan 2016
Category 17
Tag Starting-Trading
Question Day order: everything we need to know.
Advice from Guru
Hi Andrew,

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.
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