[header] How to place a limit order [title] Know what a limit order is. [step] A limit order allows you to place a trade for a set number of shares of a stock at a specified price or better. Such a limit will facilitate the automatic purchase or sale of stock at a desirable price. 
It will not guarantee that the trade will actually take place, however, because the price might never reach the target, or there may not be a buyer available at that price. [substeps] In other words, a limit order guarantees the trade price or better, but not that the trade will occur.