buy limit order

An order placed with a broker to buy at a price as good or better than the specified limit price. A buy limit order indicates the highest price you are willing to pay for a security. Your order will be executed at your designated price or better. This helps protect your order from sudden volatility, but it also means you will only buy the security if it reaches the price you’re seeking. You might consider using a buy limit order when price is most important or to set a target entry price when you can wait for the market to move in your favor before entering a position.