Limit Order

A limit order is an instruction to buy or sell only at a specified price or better. It gives price certainty at the cost of execution certainty: if the market never reaches the limit, the order does not fill.

Buy-limit orders are placed below the current ask; sell-limit orders sit above the current bid. They rest in the order book until matched, cancelled, or expired at the end of the session.

Stop-limit orders combine a trigger price with a limit — useful for managing downside risk on an existing position without inviting the slippage that pure market orders can produce in fast markets.