AvaTrade offers two kinds of limit orders, Limits (L) & Entry Limits (E/L).
A limit order is a request to trade an instrument at a predefined rate, as the price of an asset moves favourably for the client’s position. It is placed at a rate which is more favourable than the current market price. The order is placed on an open position and can be described as a profit taking order, although it does not necessarily mean you are closing a position in profit. Limit orders are commonly referred to as “take profit” orders.
An Entry Limit is an order to open a trade at a predefined rate as the price of the asset moves unfavourably for the client.
AvaTrade guarantees all Limit and Entry Limit orders. A Limit Sell order refers to the closing of a Buy position. A Limit Buyrefers to the closing of a Sell position.