Limit order

A limit order is an instruction to buy or sell an asset only at a specified price or better—no worse than the limit you set. A buy limit executes at your price or lower; a sell limit executes at your price or higher. Until a matching order arrives, it rests in the order book as visible liquidity and may fill partially, fully, or not at all.

Limit orders give price control but sacrifice certainty of execution, since the market may never reach your price. A common misconception is that reaching your limit price guarantees a fill; orders at the same price are generally worked in queue order.