What does my order status mean?

What does my order status mean?  

With a customer account, you can track and check the status of your order.

Order placed
We've received your order. You should see an update soon

Being processed
We've received your order and are in the process of getting it ready to ship

Your order was dispatched
Your order has been shipped and is on its way to the delivery address as stated on your confirmation email

Cancelled
Your order has been cancelled. Any pending payments will be voided or cancelled