Basic Trading Terminology

Discussion in 'Trading' started by aphexcoil, Sep 30, 2002.

  1. 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?

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  3. 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.