This article has been translated from English to Gen Z Slang.
A working order is basically a fancy word for either a stop order or a limit order that you wanna pop open. 💁♂️
Stop and limit orders are the squad known as working, or pending orders. 🚀
These bad boys are like your instructions to the broker to make a move when a certain price hits. 🤑
If you prefer living life without 24/7 market stalking, you can drop working orders like they're hot. 🔥
They basically ghostwrite your trading moves, telling your broker what you want in different market vibes so it can handle it like a boss without sliding into your DMs. 😎
Working orders are just one flavor of the order menu, which also includes market orders (doing their thing at the freshest price that day) or good-‘til-canceled orders that stay open forever and ever. ⏳
Unlike most other order types, working orders aren’t like RSVP invites with set expiry dates. 🤷♀️
You could vibe with some working orders having different expiry dates, from same-day bounce to good ‘til canceled, lingering until you say 'bye!' 👋
We’re talking two main types of working order:
- Stop orders are like your frenemies, acting at a level less chill than the current market price 😬
- Limit orders are your besties, acting at a level more fab than the market price 💁♀️
Both kinds of working orders whisper to your broker that you're only down for trading if something spicy happens to the asset price. 🔥
When that epic price is hit, your broker will slide in and make the trade, buying or selling that pre-decided amount. 💰
P.S. Don’t forget to check on your working orders from time to time, making sure they’re still vibing with your market outlook and trading dreams. 💭✨