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I love using limit orders to enter the market. For me personally, it’s a bargain and I almost never use stop orders.

In real life, it’s like going to a retail shop and telling the owner that you will buy his product if he’s willing to give you a discounted and better price.

However, there are always pros and cons to everything, and here’s what I find true about limit entries:

PROS:
Better, discounted price, better for RR
Get into spikes and quick moves that may be impossible to capture with a market order
Forces you to wait and be patient before you get filled. No impulsive trading by entering on a market order. The markets know how to play with our emotions, we are always tempted to enter the market, being afraid to miss out on a move

CONS:
Missed out on moves that don’t retrace
We don’t know when to call tops and bottoms and how price approaches the limit entry
Get stopped out more often, without confirmation


I may be a bit biased to my opinions, so if you agree or disagree, drop me a comment below :)

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