Working Order
Any live order waiting in the market: limits, stops and GTCs not yet filled or cancelled.
A working order is any live, unfilled order resting in the market. Forgotten working orders fill at the worst moments, so audit them like positions.
A working order is any order currently live with the broker or exchange: resting limits, pending stops, GTC orders from last month. Working orders are open commitments that can fill while you sleep, which is why professionals audit the working list like an open position list.
How It Works
- Rests with the venue until filled, expired or cancelled
- Fills anytime conditions meet, including overnight
- Day orders die at session end, GTC persists
Trading Tips
Review working orders every night before close
Cancel stale levels the thesis abandoned
Weekend gaps fill working orders at ugly prices
Working Order Example
Say you leave five buy limits across EUR/USD over the weekend and payrolls surprise Sunday night. Monday opens 150 pips lower with three filled at terrible spots. The orders worked exactly as instructed while the plan slept.
How Traders Use Working Order
Flatten or tighten working orders before weekends and red news. An order you forgot is a position you did not choose. Five minutes of nightly review prevents most horror stories.
Related Terms
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