A limit order specifies a maximum price you will pay (for a buy) or a minimum price you will accept (for a sell). It only executes if the book reaches your level. Limit orders guarantee price but not execution — they can sit on the book unfilled indefinitely.
Limit orders are passive: they 'rest' on the book waiting for someone to take the other side. This makes them 'maker' fills on most exchanges, which charge lower fees (sometimes negative — you get paid to provide liquidity).
Limit orders are the right tool when price matters more than fill certainty: entries at specific structural levels, partial profit-takes, and rebate-harvesting strategies. They are the wrong tool when missing the move is costlier than the spread saved.
Exemple
BTC trading at 50,200. Place a limit buy at 50,000. The order sits on the book and only fills if price comes down to 50,000 or below.
Comment Noon Barbari utilise Limit order
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Order types in the designer →Termes liés
- Types d'ordres
Market order
An order to fill immediately at the best available price. Pays the spread.
- Types d'ordres
Stop order
An order that converts to a market order once a trigger price is reached.
- Types d'ordres
Stop-limit order
Stop order that converts to a limit order, not a market — avoids bad slippage.
- Types d'ordres
Iceberg order
A large order shown to the book in small slices to hide total size.