Educational purposes only. This content does not constitute investment advice. Read our disclaimer
StockCram is not a broker-dealer, investment adviser, or financial institution. All content is for educational and informational purposes only and should not be construed as personalized investment advice. Consult a qualified financial professional before making investment decisions. Past performance does not guarantee future results.Simple Definition
An order that expires at the end of the trading day if it has not filled.
Why It Matters
The day order is the default on most platforms, so it's the one you use without realizing it. It stays active only until the market closes; anything unfilled is cancelled automatically, and nothing carries over to the next day. That's a safety feature - no surprise fill tomorrow from an order you forgot - but it also means a limit order waiting at a price the stock never reached simply disappears at the close. To make an order persist, you switch it to good-til-canceled.
Key Points
- Expires at the market close if unfilled
- The default setting on most brokers
- Nothing carries over to the next day
Learn More
Time in Force: Day, GTC, IOC & FOK
Get a complete explanation with examples, key takeaways, and a quiz to test your knowledge.
Related Terms
Common Questions
An order that expires at the end of the trading day if it has not filled. The day order is the default on most platforms, so it's the one you use without realizing it. It stays active only until the market closes; anything unfilled is cancelled automatically, and nothing carries over to the next day.
The day order is the default on most platforms, so it's the one you use without realizing it. It stays active only until the market closes; anything unfilled is cancelled automatically, and nothing carries over to the next day. That's a safety feature - no surprise fill tomorrow from an order you forgot - but it also means a limit order waiting at a price the stock never reached simply disappears at the close. To make an order persist, you switch it to good-til-canceled.
Expires at the market close if unfilled
The default setting on most brokers
Nothing carries over to the next day