Explanation of Open Orders

[bettingdude]

Hi to you All,

I am studying Bet Angel and some terms to be able to understand as much as I can.

I have read the "Reversing the Book - Using Force Open"
here http://www.betangel.com/user-guide/reve ... _open.html

I am wondering what they mean by "open orders" exactly...
Are they bets you create at a certain price not offered in the market yet?

It is no very clear. Can someone explain?

I looked up the word "Open" in the dictionary in that sense to try to make clear sense out of it but I am not sure about the right definition of "Open" here.

Can someone knowledgeable help pls?

[6thSense]

An open order is one that is waiting to be matched.

Using a reversed book allows you to quickly request better than currently available prices. For example, reversing the one click screen allows you to place BACK bets at the current LAY price and vice-versa. These orders (or bets) will initially be unmatched.

The risk here is that the market may move against you and your orders (bets) will remain unmatched. Use your skill and judgement to manage this scenario.

[bettingdude]

That IS a very well explained definition...I got it ... THanks 6thSense...I will be able to carry on with my studies...

6thSense... Nice movie btw!