A trading order to buy a security at the designated price or lower.
An order to execute a transaction at a specified price (the limit) or lower.
A buy limit order is a conditional order in which a security is to be bought at a specified price or lower. You can use these orders in the Marketocracy competition to specifiy the highest price at which you are willing to buy securities for your fund.
A conditional trading order that indicates a security may be purchased only at the designated price or lower. Related: Sell limit order.