A working order is an instruction given by a trader to their broker to execute a trade at a specified price or better. The order is said to be “working” until it is executed, canceled or expires. It is also known as an open order or pending order. Working orders can be used for both buying and selling, and they can be either limit orders or stop orders. A limit order is an instruction to buy or sell a security at a specified price or better, while a stop order is an instruction to buy or sell a security when its price reaches a certain level.