Because your order stays on the books until it’s filled or canceled, it’s just going to hang out there waiting for a seller to match your bid. If you don’t want to budge on price, you can leave it there until it’s filled. If you’re eager to obtain an asset, you may need to raise your offer to match current asks.
Your order will continue to fill incrementally as sellers list an asset at the price you offered.
To cancel an open order, navigate to All Orders. You have the option there to cancel an individual order, or the close all open orders at once.