> For the complete documentation index, see [llms.txt](https://help.blum.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.blum.io/trading-bot-faq/limit-orders.md).
# Limit Orders
Let’s review the preferences and mechanics of creating a **Limit Order**.
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#### **Understanding Key Parameters**
**Slippage** and **Target Price** may seem confusing at first, so here’s how they work:
* These two parameters do **not combine** like simple addition.\
Instead, they are **applied sequentially** during the order process.
* **Target Price**:\
This is the **trigger**. When the market reaches this price, the order is **sent to the blockchain** for execution.
* **Slippage**:\
This applies **only after the order is triggered** and execution begins.\
It defines the **acceptable price gap** during the short window of execution on the blockchain.
Think of slippage as a **buffer zone** in case the market price changes slightly between the trigger and actual execution.
***
#### **Expiry Parameter**
You can set the **order expiration period** to:
* **1 day**
* **3 days**
* **7 days**
After the selected time, if the order hasn't executed, it will be **automatically cancelled**.
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#### **Placing a Limit Order**
Once you've set:
* **Target Price**
* **Slippage**
* **Amount**
* **Expiry Time**
Tap the **CREATE LIMIT ORDER** button to finalize and submit your order.
***
#### **Managing Active Orders**
All your active limit orders are listed in the **ORDERS** section.
Here, you can:
* View **detailed parameters** of each order
* **Cancel** any active order at any time