Basic Trading Terminology

aphexcoil

aphexcoil

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!
 
Originally posted by aphexcoil
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!
More...

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.
 
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