Limit Order : A limit order lets you choose the maximum price you'll pay (or minimum you'll accept). It only fills at that price or better.
What it means
A limit order lets you choose the maximum price you'll pay (or minimum you'll accept). It only fills at that price or better.
Example
YES is offered at 45¢ but you only want to pay 42¢. You place a limit buy at 42¢; it waits in the order book until someone sells at that price.
Practical tip
Limit orders protect you from paying more than you planned, especially in thin markets. The trade-off: they may never fill.
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