Definitions for "limit order"
Keywords:  gtc, better, buy, yen, sell
A Limit, is an order to close a trade when the market moves a specified amount...
Order to buy or sell a security at a specific price or better. A limit order is considered a day order unless otherwise specified. See Open Order.
When you place an order with a broker to buy or sell a share you can either instruct them to deal at the best order they can (known as "at best"). Alternatively you can place a limit order to buy or sell only if you can get a certain price.