> For the complete documentation index, see [llms.txt](https://docs.bullpen.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bullpen.fi/trading/order-types/limit-order.md). # Limit Order Executes at your specified price or better. The order sits on the book until filled or canceled. ## Use When You want to control your entry/exit price and are willing to wait for execution. ## Parameters * **Asset**: The token or contract you want to trade * **Size**: Amount to buy or sell * **Direction**: Buy/Sell * **Limit Price**: Your target execution price * **Time-in-Force**: How long the order stays active (GTC, IOC, FOK, GTD, ALO) * **Reduce Only** (optional): Only reduces existing position ## How It Works 1. You place a limit order with your target price 2. Order is added to the orderbook 3. When market price reaches your limit: * Buy limit: Executes when ask price ≤ your limit * Sell limit: Executes when bid price ≥ your limit 4. Order may fill partially or fully depending on available liquidity ## Time-in-Force Options See [Time-in-Force Options](/trading/order-types/time-in-force.md) for details on GTC, IOC, FOK, GTD, and ALO behavior. ## Important Notes * **Price-time priority**: Best prices fill first; at same price, oldest orders fill first * **No guarantee of fill**: Your order may never execute if price doesn't reach your level * **Maker rebates**: If your order rests on the book (especially with ALO), you may earn maker rebates * **Partial fills**: Large orders may fill in pieces as liquidity becomes available ## Best Practices * **For entries**: Place limit buys below market, limit sells above market * **For exits**: Opposite of entries * **Use ALO**: When you specifically want maker rebates and aren't time-sensitive * **Monitor fills**: Check if your order is getting filled; adjust price if needed * **Consider GTD**: For event-driven strategies with known timeframes --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.bullpen.fi/trading/order-types/limit-order.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.