Glossary
Limit Order
An instruction to buy or sell only at a specified price or better.
Limit orders give price certainty at the cost of execution certainty — if the market never reaches the limit, the order doesn't fill. They sit in the order book until matched, expired, or cancelled.
Buy-limit orders are placed below the current ask; sell-limit orders above the current bid. Stop-limit orders combine a trigger price with a limit — useful for managing risk without inviting market-order slippage.