What is a same day order?

When trading, investors different types of orders can be placed, each of which adds different parameters to your transaction. Same-day orders are one of the order types, I .e. orders that set rules to buy and sell securities at the end of a trading day.

Where have you heard of same day orders?

Unless otherwise stated, almost all orders placed by you are treated as same-day orders. You can request broker contact you the day after your order to find out if you wish to renew your order until the next day.

The information you need to know about the order of the day...

Same-day orders provide investors with control. For example, if you are unable to contact the broker for a certain period of time, you can set a deadline for your order to continue trading if you cannot operate.

Same-day orders are traded by setting parameters for the day, and if those parameters are reached, you will buy or sell the securities in question. If these parameters are not met, no sale will take place. You can place a same-day order with your broker to buy 200 shares for £ 5. Therefore, if the share price does not meet the specified parameters at the end of the day (I. E. Does not fall below £ 5.50), the order will not be executed and will not continue until the following day.

The same is true for sell orders. You can set rules, but if the rules are not met, no transactions will be made.