InvestorQ : What is meant by Day Orders in the trading system?
vidhya Laxmi made post

What is meant by Day Orders in the trading system?

Abhisha Yadav answered.
3 years ago
A Trading Member can enter various types of orders depending on his/her requirements. These conditions are broadly classified into three categories: time-related conditions, price-related conditions, and quantity related conditions.
A Day order, as the name suggests, is an order which is valid for the day on which it is entered. When we talk of a day we refer to the trading day which commences at 9.15 in the morning and closes at 3.30 in the afternoon. If the order is not matched during the day, the order gets canceled automatically at the end of the trading day. Next day if you want to put the same order with the same conditions then you will have to input the order all over again. If you don’t put any condition, then an order is by default a Day Order. That means; at the end of the trading day, it automatically gets canceled if not executed till the end of trade on that day.