Limit Orders allow traders to specify the exact price at which they want to enter or exit a trade. Unlike Market Orders, which execute immediately at the best available price, Limit Orders will only execute if the market reaches your chosen price level.
This gives traders greater control over their entries and exits.
What Is a Limit Order?
A Limit Order is an order placed at a specific price or better.
Buy Limit Order
A Buy Limit Order is placed below the current market price.
The order will only execute if the market falls to your specified price.
Sell Limit Order
A Sell Limit Order is placed above the current market price.
The order will only execute if the market rises to your specified price.
Because execution depends on the market reaching your chosen price, Limit Orders are not guaranteed to fill.
Placing a Limit Order on Desktop
Step 1: Log In to Tradovate
Open the Tradovate desktop platform and sign in to your account.
Step 2: Select Your Instrument
Choose the futures contract you want to trade.
Examples include:
NQ
MNQ
ES
MES
CL
Step 3: Open a Trading Window
You can place Limit Orders from:
DOM (Depth of Market)
Chart Trading
Order Entry Window
Step 4: Select Limit Order
Choose Limit as the order type.
Step 5: Enter Your Order Details
Specify:
Buy or Sell
Quantity (contracts)
Limit Price
Step 6: Submit the Order
Click Place Order or Submit.
Your order will remain pending until the market reaches the selected price.
Managing Limit Orders on Desktop
Modifying a Limit Order
Open the Orders tab.
Locate the active Limit Order.
Click Modify.
Adjust the desired price or quantity.
Save the changes.
Canceling a Limit Order
Open the Orders tab.
Select the order.
Click Cancel.
The order will immediately be removed from the market.
Placing a Limit Order on the Web Platform
Step 1: Log In
Access Tradovate through your web browser and sign in.
Step 2: Open Chart or DOM
Navigate to either:
Chart Trading
DOM
Step 3: Select Limit Order
Choose Limit from the order type menu.
Step 4: Configure the Order
Enter:
Buy or Sell direction
Quantity
Limit Price
Step 5: Submit
Click Confirm Order to place the Limit Order.
Managing Limit Orders on the Web Platform
To Modify an Order
Open the Orders section.
Select the active Limit Order.
Update the desired values.
Save the changes.
To Cancel an Order
Open the Orders section.
Locate the order.
Click Cancel.
Placing a Limit Order on the Mobile App
Step 1: Open Tradovate
Launch the Tradovate mobile application and sign in.
Step 2: Select an Instrument
Choose the market you wish to trade.
Step 3: Open Order Entry
Tap Order Entry.
Step 4: Choose Limit Order
Select Limit as the order type.
Step 5: Enter Your Details
Specify:
Quantity
Limit Price
Buy or Sell direction
Step 6: Place the Order
Tap Confirm to submit the order.
The order will remain active until it is filled, modified, or canceled.
Managing Limit Orders on the Mobile App
Modify an Order
Navigate to Open Orders.
Select the active Limit Order.
Edit the price or quantity.
Confirm the changes.
Cancel an Order
Navigate to Open Orders.
Select the order.
Tap Cancel.
The order will be removed from the market.
When Should You Use Limit Orders?
Limit Orders are commonly used when traders want:
✓ Better control over entry prices
✓ Better control over exit prices
✓ To avoid entering at unfavorable market prices
✓ To automate entries at key support or resistance levels
✓ To avoid chasing fast-moving markets
Important Notes
Limit Orders only execute if the market reaches the specified price.
A Limit Order may never fill if the market does not trade at that level.
During periods of high volatility, price may move quickly around your order level.
Always verify your quantity and price before submitting an order.
Need Assistance?
If you have questions about placing, modifying, or canceling Limit Orders in Tradovate, the AquaFutures Support Team is available to help.