Limit Order
A limit order buys or sells only at your price or better — "buy ETH at $3,000 or lower" — waiting in the order book until matched. The opposite is a market
A limit order buys or sells only at your price or better — “buy ETH at $3,000 or lower” — waiting in the order book until matched. The opposite is a market order: fill immediately at whatever price exists, bleeding slippage on thin books.
Why it matters
Limit orders are how you refuse to donate to volatility: set your price, walk away, let the market come to you. On DEXs, limit functionality (or tight-range positions) similarly protects against sandwiching your own market buy. Amateurs market-buy breakouts; professionals leave limits and wait.