What does 'open order' mean in the context of cryptocurrency trading?

3 answers

• Dec 27, 2021 · 3 years ago
  An 'open order' in cryptocurrency trading refers to an order that has been placed but has not yet been executed. When you place an order to buy or sell a cryptocurrency, it remains open until it is either filled or canceled. During this time, the order is visible on the exchange's order book, allowing other traders to see your intention to buy or sell. Once the order is executed, it is considered a 'filled order' and is no longer open.
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• Dec 27, 2021 · 3 years ago
  When you place an order to buy or sell a cryptocurrency, it's like putting a request out into the market. This request is called an 'open order' because it's open to be filled by other traders. Until your order is matched with a buyer or seller, it remains open. Once it is matched, the order is considered closed or filled. So, an open order is simply an order that is waiting to be matched with a counterparty.
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• Dec 27, 2021 · 3 years ago
  In the context of cryptocurrency trading, an open order is a pending order that has not yet been executed. It represents your intention to buy or sell a specific cryptocurrency at a certain price. Open orders are displayed on the exchange's order book, allowing other traders to see your offer. Once your order is matched with a buyer or seller, it is considered filled and is no longer open. It's important to note that open orders can be canceled at any time before they are executed.
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