A "Limit Order" also known as an "Advanced Order", allows you to specify the price and amount of XBT you wish to sell or buy. Limit orders are added directly to our order book and wait to get matched by another user's order.
To cancel a Limit Order that has not yet been matched, select the "Exchange" tab and in "Your Open Orders" table you'll find a "Cancel" button next to each of your open orders. The order will be cancelled immediately upon pressing the button.
Limit Order gives you control over the price you accept and allows you to add liquidity to the exchange rather than take it away.