Limit

FIX OrdType <40>=2

A Limit order is placed on the limit order book at a specific price, and will only execute at that price (or better).

Use cases

Use a Limit order when you want to control the execution price, and optionally provide liquidity: market making, scaling into or out of a position at chosen levels, or capturing maker fee tiers with post_only. The advantage is that it never fills worse than your price. The tradeoff is no execution guarantee: the order may rest unfilled, or only partially fill, if the market never reaches or holds your price.

Example

In the following example we create a Limit order on the Binance Futures Crypto exchange to SELL 20 ETHUSDT-PERP Perpetual Futures contracts at a limit price of 5000 USDT, as a market maker.

use nautilus_model::{
    enums::{OrderSide, TimeInForce},
    identifiers::InstrumentId,
    types::{Price, Quantity},
};

let order = self.core.order_factory().limit(
    InstrumentId::from("ETHUSDT-PERP.BINANCE"),
    OrderSide::Sell,
    Quantity::from(20),
    Price::from("5000.00"),
    Some(TimeInForce::Gtc), // optional (default GTC)
    None,                   // expire_time
    Some(true),             // post_only (default false)
    Some(false),            // reduce_only (default false)
    None,                   // quote_quantity (default false)
    None,                   // display_qty (default full display)
    None,                   // emulation_trigger
    None,                   // trigger_instrument_id
    None,                   // exec_algorithm_id
    None,                   // exec_algorithm_params
    None,                   // tags
    None,                   // client_order_id
);

See the LimitOrder API Reference for further details.

Related guides

• Orders - Order concepts, execution instructions, and the order factory.
• Emulated orders - Emulating Limit orders, released as Market orders on trigger.
• Execution - How orders reach the venue and fills are handled.