how do traders use a buy limit order 
imagine a trader sees that the stocks of a company that he has been following are trading at 35 per share and he believes that when the price hits 29 it will rise again he might place a buy limit order for 100 shares of that stock at 30 if and when the price reaches 30 his broker will automatically open the position and if his prediction was accurate he can earn a nice profit on his 100 shares if the price reaches 32 without hitting reaching as low the limit level of 30 the limit order will not be triggered please note no brokerage including fortrade can guarantee that a buy limit order will be filled at exactly the price requested by the trader rather the broker will execute the order at the requested price and the position will be opened at the first available price in the market from that time when conditions are especially volatile there may be slippage which is a change in price between the time that the broker executes the order to open a position and the time the position is open thus resulting in a lower profit for the trader 