What does Day, Immediate and Minutes Validity mean?
What does Day, Immediate and Minutes Validity mean? Find a clear answer in this FAQ by 021 Trade.
Order Validity Types Explained
“Day”, “Immediate”, and “Minutes” validity define the time period for which a trading order remains active in the market.
Day Validity:
A Day order remains active until the end of the trading day. If it is not executed within market hours, it is automatically cancelled.
Immediate or Cancel (IOC):
An IOC (Immediate or Cancel) order is executed instantly. If the order cannot be fully executed, the unfilled portion is cancelled immediately.
Minutes Validity:
A Minutes validity order remains active for a specific duration (as selected by the user). If it is not executed within the chosen time frame, it is automatically cancelled.
Note: Choosing the right validity depends on your trading strategy and urgency of execution.
