A limit order fills only at your specified price or better — giving you price control at the cost of execution certainty. It’s the counterpart to the market order.

How it works

You set the worst price you’ll accept: a buy limit fills at your price or lower, a sell limit at your price or higher. If the market never reaches your price, the order doesn’t fill. So you never overpay — but you might not get done, especially if you set the limit too aggressively or the market runs away.

Why scalpers use limits

Limits let you work toward the mid instead of crossing the full spread — saving money on every trade, which compounds over many scalps. The tradeoff: on a fast move you may miss the entry chasing a better price. Many scalpers use a marketable limit (a limit set at or just through the current price) to balance fill certainty with slippage protection.

A limit order says “this price or better, or nothing.” It protects you from bad fills — and occasionally leaves you behind. That’s the deal.

The takeaway

Use limit orders to control your fill price and save the spread; accept that you’ll sometimes miss. It’s the default for cost-conscious scalping on liquid strikes. NoVo’s routing uses limit-style logic to pursue good fills automatically.