Open order definition
Open order
An open order is an unfilled working order that will get executed when the specific requirements have been met unless it’s cancelled by the customer or it expires.
Open orders can be subject to delayed executions because they’re not market orders. A lack of market liquidity could cause an order to remain open.
Can you place an order before the market open?
You can place an order before the market opens. Such an order can be called a Market-On-Open Order (MOO) or an AMO Advanced Market Order.
Retail traders can place fill or kill advanced market orders on their platforms. The broker might reject the order if the order is too far away from the current price. If the criteria aren’t triggered, then orders get canceled during a set period.