What is Limit Order?

An order that executes only at your chosen price or better — you get price control, the market decides if it fills.

A limit order executes only at your specified price or better: a buy limit sits below the current price, a sell limit above it. If EUR/USD trades at 1.0870 and you place a buy limit at 1.0850, the order fills only if price falls to that level. Limit orders reverse the market order's trade-off — you control the price exactly, but you accept the risk that the market never comes to you and the trade never happens.

Limit orders suit strategies built on levels: waiting for price to return to an order block, a fair value gap or a demand zone. They also eliminate slippage on entry, since a limit cannot fill worse than its price, and they remove the temptation to chase — the order is placed while you are calm, at a level chosen with analysis, and it either fills on your terms or not at all. The discipline cost is real: watching price reverse two pips above your limit and run without you is part of the deal.