A limit order is also a time commitment

A limit order is usually described by its price. In a changing market, its age can matter just as much.

While it waits, the source, spread, deadline, and opportunity cost can all change.

State why the order is still valid

Write the event, price condition, and time window that justify leaving the order open. If the reason disappears, the order needs a new decision.

A quote that was attractive before an announcement may be a stale request afterward, even if the number itself looks unchanged.

Track the capital that is waiting

Keep reserved size separate from filled exposure and note what other opportunities the open order prevents you from taking. The cost of waiting is part of the position plan.

If a partial fill arrives late, reassess the remaining quantity instead of assuming the original setup still holds.

Set a cancellation clock

Use a deadline, source update, or price move as a clear cancellation trigger. A time rule makes the order a controlled experiment rather than a forgotten instruction.

The useful question is not whether the limit still looks cheap. It is whether the original reason for waiting is still true at the current time.

Further reading: Prices and order books · Resolution rules · Current fees.

Explore the markets: Open Polymarket (referral link).