A limit order fills at your price or better. Never worse. That is the whole deal. The SEC formalizes the same rule: a buy limit only executes at the limit price or lower, a sell limit only at the limit price or higher.
A buy limit sits below the current price and waits for the market to come down. A sell limit sits above and waits for the market to come up. Either way, you are saying the same thing: I will take this positionPositionA single entry held on the broker account, with a direction, a size, and a current floating result.Click the word to learn more, but only at my price.
The trade-off is fill certainty. A limit order is never guaranteed to execute. If the market does not come back to your level, you sit and watch. Some find that comfortable. Others find it maddening.
Algorithmic strategies use limits to anchor entries to a specific zone, usually a level the algorithm has flagged as worth waiting for. A common pattern pairs the limit with a time-based cancel. If nothing fills inside the window, the algorithm cleans up and moves on instead of dragging a stale order around.
Javlot forwards the exact limit price the algorithm requested. The broker matches at that price or better. That is the contract. No requoting on Javlot's side.