What is the meaning of 'market on close' in the context of cryptocurrencies?

3 answers

• Dec 25, 2021 · 3 years ago
  The term 'market on close' refers to a type of order execution in the context of cryptocurrencies. When placing a market on close order, traders aim to execute their trades at the closing price of a specific trading session. This type of order is commonly used by investors who want to take advantage of the final moments of a trading day to enter or exit positions. By executing at the closing price, traders can benefit from potential price movements that occur during the closing auction. It's important to note that the execution price may differ slightly from the closing price due to market fluctuations.
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• Dec 25, 2021 · 3 years ago
  Market on close orders are a popular choice among day traders and active investors in the cryptocurrency market. By placing such orders, traders can take advantage of the liquidity and volatility that often occur during the closing minutes of a trading session. This strategy allows them to capture potential price movements and maximize their profits. However, it's crucial to monitor the market closely and be aware of any sudden price swings that may occur during the closing auction.
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• Dec 25, 2021 · 3 years ago
  In the context of cryptocurrencies, 'market on close' orders can be executed on various exchanges, including Binance, BYDFi, and other major platforms. These orders are typically filled at the prevailing market price at the time of the closing auction. Traders should be aware that the execution price may deviate slightly from the closing price due to market conditions and order book dynamics. It's recommended to consult the specific exchange's trading rules and guidelines to fully understand how 'market on close' orders are handled on their platform.
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