Buy Limit Order definition

Buy Limit Order is order to buy security at specific price (lower than the current price). The order is executed only if the price goes down to/below the Limit Order Price.

For example, say ABCD is trading at 20. Buy Limit Order to buy 1000 shares of ABCD at 18 will only be executed if ABCD price reaches 18 (or below 18); at that point 1000 shares of ABCD will be acquired at 18.

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