What is the standard in crypto markets, Open Orders or Pending Orders? [closed]

1. What happens to open orders when the market closes?
2. What is open and closed order?
3. What does it mean when an order status is open?
4. What is a market close order?

What happens to open orders when the market closes?

Open orders, sometimes called 'backlog orders' can arise from many different order types. Market orders, which cannot have restrictions, are typically filled instantaneously or cancelled. There are rare instances when market orders remain open till the end of the day at which time the brokerage will cancel them.

What is open and closed order?

During the trading day the order behaves exactly like a GTC order. Generally, an open market order is used for entering the market (opening a position) while a close market order is used for exiting the market (closing a position).

What does it mean when an order status is open?

A market order that was placed when the market was closed and has not filled yet, or a limit/stop order that has been placed but the price has not been met yet and therefore has not executed yet is called an open order.

What is a market close order?

Key Takeaways

A Market-On-Close (MOC) order is a non-limit market order that is executed at or after the closing of a stock exchange. Traders generally would place a MOC order in anticipation of a stock's movement the next day. A surge of MOC orders can create trade imbalances at the end of the trading day.