penny stock to buy

Im trying to buy penny stock at etrade and I was wondering what Limit Price means?

as you can tell this is my first time

A limit price is where you set a price that is the maximum you will pay for the stock. :This can be very important if few shares of the stock regularly trade as is often the case with penny stocks. So if you are willing to pay 50 cents per share then that is the limit. If the stock says it is trading at 45 cents and you put a limit in at 50 you will get it for the cheapest price at 50 or below. So you might get it for 45, 50, or not at all. You can also set a limit price below the current trading price if you think the stock will drop and you don’t want to miss out.

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