A day order is an instruction you give to your broker to buy or sell a security at the market price or at a particular price you name before the end of the trading day. The order expires if it isn't filled.
In contrast, a good 'til canceled (GTC) order remains open on the broker's books until it's filled, you cancel it, or the brokerage firm's time limit for GTCs expires.
- Browse Related Terms: All or none order (AON), confirmation, day order, Fill or kill (FOK), Good 'til canceled (GTC), open order, Stop order
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