A day order is an instruction from a trader to their broker to buy or sell a particular asset. A day order indicates that if an asset reaches a particular price (referred to as the level) during the trading day on which the order is placed, the trade must be completed. The day order will expire if the price mentioned in the order is not met by the market closing time. Day orders can be categorized into two types: halt day orders and limit day orders. When the price at which the trade would be executed is greater than the current market price, it is a limit day order; otherwise, it is a stop day order.

A day order is an instruction made by a trader to the broker so as to either buy or sell an asset. Should that particular asset reach a certain price - also known as the level - during that trading day on which it was orginally placed, then the trade gets completed.