Day Order

A day order is an order made to a securities broker which is only valid on the same trading day during which it is placed. If the order cannot be fulfilled within the same trading day, it is automatically canceled.

Day orders can be used to prevent orders which are not carried out at the favorable rates or market conditions available on a given day from being carried out at a less-favorable rate on a proceeding day.

Day orders can be combined with both buy orders and sell orders as well as specific order types such as stop orders, limit orders, trailing stop orders and market orders.

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