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Limit Order
Market Mechanics
A limit order sets the highest price you will pay when buying or the lowest price you will accept when selling.
It executes only at that price or better, and if the market never gets there it may not execute at all. In short, it guarantees the price, not the fill.
Example
With the stock at $52, a limit buy at $50 waits until the price reaches $50 or lower.
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