# How to place a limit order

> What a limit order is, how its limit price works, and how to place one on STX using the Order Slip.

Source: https://help.stxapp.io/articles/limit-orders/

A limit order is an order to buy or sell a set number of contracts at a limit price. It specifies the highest price you are willing to pay to buy, or the lowest price you are willing to accept to sell. It may execute at that price or a better one. Execution is not guaranteed.

You can place a limit order and wait for another member's order to match it, or match an order that is already on the order book.

## Placing a limit order

In the **Order Slip**, choose **Limit** as the order type, enter your limit price and the number of contracts, review the **Cost** and **Payout**, and select **Place Order**.

If your order is not matched straight away, the unexecuted part stays open at your limit price until it executes, is canceled or otherwise expires under the rules. See [Trading and orders](https://help.stxapp.io/articles/trading-and-orders/) and [Orders](https://help.stxapp.io/articles/orders/).