They say there are no stupid questions, just stupid people -- in which case, I'd often be carrying my stupid sign. Here is a question I have that relates to some rather basic terminology. First, what exactly is an "open order?" Is an open-order one that is open to be filled, yet has not been filled? If I have a limit order and a stop order "open" but neither has been filled, they are considered open orders, right? Now, if I put in a market order and it gets filled, is that an open order or has that order been closed and filled? Thanks!
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Yes, an open order is any order (usually a limit order) that has not been filled. Yes, if your market order (or any order) has been filled then it is not open.