limit order

An order placed with a broker to buy or sell at a price as good or better than the specified limit price. A limit order indicates the highest price you are willing to pay for a security, or the lowest price you are willing to accept to sell 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 or sell the security if it reaches the price you’re seeking. You might consider using a limit order when price is most important or to set a target entry/exit price when you can wait for the market to move in your favor before entering or exiting a position.