When trying to buy, for example, placing a buy limit at a lower price than what the asset is trading at currently may give the trader a better price if the asset drops in value (compared to buying now). One of the sell orders will be reached first, closing out the trade. When buying a stock, a trader should consider how they will get in, and how they will get out at both a profit and loss. The order types used can greatly affect the results of a trade. Look it up now! Orders broadly fall into different categories which allow investors to place restrictions on their orders affecting the price and time at which the order can be executed.
Most individuals trade through Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012 Investors utilize a broker to buy or sell an asset using an order type of their choosing.