LIMITS/ LIMITS ORDER
An order to purchase at a lower price than the current market or to sell at a higher price than the present market. A limit order limits the maximum price that may be paid or the minimum price that can be received. For example, if the current price of USD/JPY is 117.00/05, a limit order to purchase USD at a price lower than the current market, such as 116.50, would be placed. A “Take Profit” order is a Limit Order that is tied to an existing open position to close it.
