In trading, a limit order allows a user to specify the exact price they are willing to pay for an asset (in the case of a buy limit order) or the minimum price they are willing to accept for selling an asset (in the case of a sell limit order). This means that limit orders will only execute when the asset reaches the desired price, giving the trader more control over their trades. Limit orders are useful in volatile markets where prices fluctuate rapidly, allowing traders to avoid buying at a high price or selling at a low price unintentionally.