Working Order

A working order is a type of trade order placed with a broker that remains active until the specific price or condition set by the trader is met. Working orders are commonly used by traders who want to execute a trade at a desired price rather than the current market price. Types of working orders include limit orders, stop orders, and stop-limit orders, which allow traders to control when and how their trades are executed based on price movements.

Example

A trader places a working limit order to buy 100 shares of a stock at $50, meaning the trade will only execute if the stock price falls to or below $50.