A limit order offers the option to buy or sell an agreed amount of currency at a rate determined by you. When the specified rate is reached in the market, the order is automatically executed. The advantage for you is that you do not have to follow the rate yourself; the order is monitored 24 hours a day from Monday to Friday. A disadvantage is that a limit order does not offer protection against a rate movement that is unfavourable to you. A limit order can be adjusted or cancelled at any time during office hours.