1. Simulator How-To Guide: Introduction
  2. Simulator How-To Guide: The User Interface Tabs
  3. Simulator How-To Guide: Purchasing Stocks
  4. Simulator How-To Guide: The Portfolio Summary Page
  5. Simulator How-To Guide: Ticker Symbol Look Up
  6. Simulator How-To Guide: Diversified Portfolio
  7. Simulator How-To Guide: Selling Stocks
  8. Simulator How-To Guide: Advanced Trade Types
  9. Simulator How-To Guide: Short Selling
  10. Simulator How-To Guide: Covering Short Positions
  11. Simulator How-To Guide: Cancelling Orders
  12. Simulator How-To Guide: Margin Accounts
  13. Simulator How-To Guide: Buying Options
  14. Simulator How-To Guide: Options Usage
  15. Simulator How-To Guide: Conclusion

Depending on the order type and the time of day, a player may have the capability to cancel an order from being executed. Please realize that limit and stop orders can always be canceled prior to execution. Due to the nature of how basic market orders are supposed to behave, they cannot be canceled. The only exceptions are for MARKET OPEN orders (A special class of market orders that are made when the markets were closed for trading), which can be canceled before the markets open for trading.

We will now go through an example about canceling an existing buy limit order for Microsoft (Nasdaq:MSFT) (If you need to review how to make a limit order, click here).

First, click on the trade tab.


Click on the Open Trades link that appears in the area below the tabs. Finally, Click on the corresponding "cancel" link (in this case, its the one for MSFT) to initiate the cancel.

In the case of limit and stop orders, cancellation does not happen instantly. It will typically take around 20 minutes from when the cancel request is initiated before the order will be removed. If the target price is met during that 20 minutes, the order will still go through. Market open orders, on the other hand, will be instantly canceled when the cancel command is selected.


Simulator How-To Guide: Margin Accounts
Related Articles
  1. Investing

    Explaining Good ‘til Canceled

    A good ‘til canceled order remains in effect until an investor cancels a specific trade or executes it.
  2. Investing

    Understanding Immediate-or-Cancel Orders

    A trader places an immediate-or-cancel order to immediately execute a trade in full or in part. Any part of the order that remains unfulfilled is canceled.
  3. Investing

    The Basics of Trading a Stock: Know Your Orders

    Taking control of your portfolio means knowing what orders to use when buying or selling stocks.
  4. Trading

    NYIF Instructor Series: "Fill or Kill" Order

    In this short instructional video Anton Theunissen explains what the "fill or kill" order is.
Frequently Asked Questions
  1. What is the Difference Between Preferred Stock and Common Stock?

    Understand and explore the advantages and disadvantages of owning preferred stock as opposed to owning common stock shares ...
  2. Is There a Difference Between the Equity Market and the Stock Market?

    Equities and stocks refer to the same thing.
  3. What Happens to a Company's Stock When it Goes Bankrupt?

    Shareholders may be entitled to a portion of the liquidated assets in the wake of a bankrutpcy, but the stock will be worthless.
  4. What are Advantages and Disadvantages of Preference Shares?

    Preference shares have advantages and disadvantages for both investors and issuing companies.
Trading Center