Detailed Explanation
Why It Matters:
Gives price control; can get better entries/exits and often lower maker fees. Teaches patience over impulse.
How It Works:
Placed in order book until matched (or canceled). Buy limit: executes at your price or lower; sell limit: at your price or higher.
Common Mistakes:
Setting unrealistic prices (never fills); forgetting to cancel old orders.
FAQs
Better than market?
Yes for control and cost savings.
Guaranteed fill?
No — only if market reaches your price.
