# Limit order
A limit order is an exchange order that is created at a fixed price.
## Creating order
Order placement requirements:
1. Select **"New Long"** or **"New Short"**
2. Select Order type ( for example - L)
3. Enter price ( can be done on the graph)
4. Enter an amount or volume
5. Click **"Open LONG**"
Related references:
{% content-ref url="../custom-volume" %}
[custom-volume](https://docs.finandy.com/trading/create-order-grid/custom-volume)
{% endcontent-ref %}
When placing a limit order, it can either add liquidity to the order book or match with existing orders, depending on the prices involved.
## Limit Order Conditions in the Order Book
{% hint style="info" %}
**Note:** Limit orders are subject to a price deviation restriction from the current market price (\~5-10%). Orders with anomalously high or low prices will be automatically rejected.
{% endhint %}
### Buying
Order price must be **lower** than the extreme **selling** price in the order book
### Selling
Order price must be **higher** than the extreme **buying** price in the order book
## Limit order conditions for market price execution
### Buying
Order price must be **higher** than the extreme **selling** price in the order book
### Selling
Order price must be **Lower** than the extreme **buying** price in the order book
**Do you have any questions? We can help you in our Telegram chat.**
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