> For the complete documentation index, see [llms.txt](https://docs.unlimited.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.unlimited.trade/start-trading/or-unlimited-leverage-guide/creating-a-trade/limit.md).

# Limit

**Limit** orders are a type of order that allows you to <mark style="color:blue;">**specify a fixed price at which you want to open a Long or Short position**</mark>. This is an alternative to [Market](/start-trading/or-unlimited-leverage-guide/creating-a-trade/market.md)orders.&#x20;

<figure><img src="/files/5XIGMMFS8k8Jn35lRAuE" alt=""><figcaption></figcaption></figure>

**Limit orders give you more precise control over the price points of your trades, but they may take longer to complete than market orders because they wait for a specific price to become available.**

{% hint style="info" %} <mark style="color:blue;">**Glossary for the image above:**</mark> :arrow\_heading\_down:

**Limit Order** **-** This is the price level at which your order will be executed if the asset you are trading reaches it.

**Order Expiry -** You can set an expiration date for your order using the "Order Expiry" tab. This will automatically cancel the order if it hasn't been filled by the specified date.
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{% hint style="info" %}
When using **Limit Orders**, users are encouraged to keep an eye on the "**Orders**" tab (see [Orders](/start-trading/or-unlimited-leverage-guide/orders.md)) if there are pending orders they no longer wish to proceed with due to changing market conditions. \
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**You can cancel an order that hasn't been filled at any moment.**
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