Characteristics of Limit Orders

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1.   Buy Order < Current Market Price.

2.   Sell Order > Current Market Price.

3.   Limit Orders are usually entered to take a profit.

4.   It is possible that Limit Orders may not be executed at the specified market price even if it trades at the level. Execution depends on the liquidity. If the market is gapping, the executed price may be different than the Limit Order.