The limit buy/sell order refers to the tools that actually enable traders to buy or sell assets at a designed target price. For market orders, traders are able to buy or sell assets at the current price. With limit orders, a higher level of control is actually given to the trader.
With buy limit orders, investors have a higher chance of buying the asset at a certain point. Although there is no guarantee on the order getting filled. Furthermore, traders can also miss out on opportunities due to the set limit price.
These tools are extremely beneficial while removing emotions from a trade. Professionals are able to take trades in a disciplined manner while keeping up with the vast moving, volatile market.