> For the complete documentation index, see [llms.txt](https://quote.gitbook.io/quote-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://quote.gitbook.io/quote-docs/execution-strategies/chase-limit.md).
# Chase Limit
A limit order that follows the best bid/offer within a hard time and attempt budget.
`chase_limit` is for when you want **to fill near the touch soon**, without paying the full spread of a market order. It places a limit order near the BBO and follows the market as it moves, converging toward the touch until the order fills or the attempt/time budget runs out.
It is a patient version of a marketable limit: it chases price moves, but only within bounds you set.
## Example
{% code title="POST /api/orders" %}
```json
{
"symbol": "BTC",
"side": "buy",
"size": "0.1",
"orderType": "limit",
"strategy": "chase_limit",
"params": {
"maxAttempts": 8,
"maxTotalSecs": 30
}
}
```
{% endcode %}
This chases for at most 8 attempts or 30 seconds, whichever comes first.
## Parameters
| Parameter | Type | Default | Description |
| ------------------ | ------- | -------------- | ----------------------------------------------------- |
| `maxAttempts` | integer | `8` | Maximum number of placements/re-pegs |
| `maxTotalSecs` | integer | `30` | Hard wall-clock budget for the whole chase |
| `initialOffsetBps` | decimal | server default | Starting offset behind the touch |
| `minOffsetBps` | decimal | `0` | Floor for the offset (0 = allowed to reach the touch) |
| `reduceOnly` | boolean | `false` | Only reduce an existing position |
The re-peg cadence and how quickly the chase converges toward the touch are managed by the engine and vary with market conditions; they are deliberately not specified here.
## Behavior notes
* **It can miss.** If price runs away faster than the chase converges, the strategy ends `completed`-with-partial or unfilled at the budget limit. Check `filledQty`. If you need certainty, use a market order with a slippage bound (see [placing orders](/quote-docs/for-developers/placing-orders.md#market-orders)); chase limit is the *cheaper but not guaranteed* alternative.
* **Best on liquid books.** On thin books, each re-peg competes with a moving, sparse touch. Consider a wider `initialOffsetBps` or a different strategy.
* Good default for "get me in around here" order entry from a bot: bounded latency, bounded slippage, no spread crossing unless the chase converges to the touch.
## When to use something else
* Larger size to work over time → [Passive TWAP](/quote-docs/execution-strategies/passive-twap.md).
* Must fill *now* whatever the cost → plain market order with a slippage-bounded `limitPrice`.
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