Limit and Stop-Loss Orders. Limit orders are common in the futures markets. In such cases, the customer instructs the broker to buy or sell only if the price of the contract he is holding, or wishes to hold, reaches a certain point.
http://futures.tradingcharts.com/tafm/tafm12.html
STOP LIMIT Orders. A STOP LIMIT SELL order is similar to a SELL STOP order, however, the specified LIMIT price is the only price that you will accept for the trade. As soon as the ASK price hits your specified STOP price, your trade becomes a SELL at LIMIT order. This does not guarantee that your order will be filled.
https://www.briefing.com/investor/learning-center/strategies/Using-Stop-and-Stop-Limit-Orders/
For example, maybe you own a stock whose price is at $50 and you want to sell, but you think that a short-term rally in the stock is imminent. In that case, you can use a limit order such as, “Sell the stock at the sell limit order of $55 and keep the order on for 30 days.”.
http://www.dummies.com/personal-finance/investing/stocks-trading/when-to-use-limit-orders-for-stock-investing/
When you’re buying (or selling) a stock, most brokers interpret the limit order as “buy (or sell) at this specific price or better.”. For example, presumably, if your limit order is to buy a stock at $10, you’ll be just as happy if your broker buys that stock at $9.95. That way, if you don’t get exactly $10 because the stock’s price was volatile, you’ll still get the stock at a lower price.
http://www.dummies.com/personal-finance/investing/stocks-trading/when-to-use-limit-orders-for-stock-investing/
You might use a limit order if you want to own a certain stock but think it's overvalued now. If so, you could set a lower limit at which you'll buy. If it reaches that limit, the order will be activated, and you'll buy the stock. If not, your order will expire unfilled.
https://www.fool.com/investing/2014/11/21/market-or-limit-order.aspx
To provide for more orderly markets, the exchanges have definite daily trading limits on most contracts. Most futures exchanges use formulas to increase a contract's daily trading limit if that limit has been reached for a specific number of consecutive trading days. Also. in some markets, trading limits are removed prior to expiration of the nearby futures contract.
http://futures.tradingcharts.com/tafm/tafm12.html
So if you place a limit order to buy 50 shares of Home Surgery Kits Co. (ticker: OUCHH) at $45, and the stock is trading around $48, your order won't be filled until or unless the stock falls to $45 or lower.
https://www.fool.com/investing/2014/11/21/market-or-limit-order.aspx
An example of how to use a stop-limit-on-quote order. To put the stop-limit-on-quote order into practice let's say an investor has owned a stock for years and it has grown to be a large portion of their retirement portfolio.
https://www.fool.com/investing/general/2015/06/09/how-to-use-a-stop-limit-on-quote-order.aspx
Using Stop and Stop Limit Orders. 1  Stop loss orders are some of the best techniques available to investors. 2  When you already have a position, you can place a stop loss order. 3  There are two kinds of stop loss orders: STOP or a STOP LIMIT order.  Note: Most brokerages use the terms STOP and STOP LIMIT, as described below.
https://www.briefing.com/investor/learning-center/strategies/Using-Stop-and-Stop-Limit-Orders/
Related Lessons. Trailing stop orders. A trailing stop loss order adjusts the stop price at a fixed percent or number of points below or above the market price of a stock. Learn how to use a trailing stop loss order and the effect this strategy may have on your investing or trading strategy. Parabolic SAR.
https://www.fidelity.com/learning-center/trading-investing/trading/stop-loss-video
how to use limits on stocks
A stock whose price is at $50 and you want to sell, but you think that a short-term rally in the stock is imminent. In that case, you can use a limit order such as, “Sell the stock at the sell limit order of $55 and keep the order on for 30 days.”.