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A limit order is an order away from the market price that is held in a limit order book until it can be executed at the desired price.
A limit order refers to the purchase of securities at a well negotiated price, other than the price stated. The limit order places an already known amount before purchasing or selling security.
Hence, a limit order is an order away from the market price that is held in a limit order book until it can be executed at the desired price.
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