An order that has been placed with a broker or exchange but has not yet been executed because the market has not reached the specified price. Working orders include limit orders, stop orders, and conditional orders that sit in the order book or on the broker's system waiting to be triggered. Traders use working orders to enter or exit the market at predetermined levels without needing to monitor prices continuously.
Example
“The trader had a working order to buy 1,000 shares at $45.00, and it remained open for three days before the stock finally dipped to that level and the order was filled.”