Questions about limit order

I'm quite new at this

So basically what I understand from limit order is that for example a stock is at $10, and I can say I want to buy 100 stocks once the stock is $9. I got these questions about it;

• Will the limit order stay for unlimited time (unless it's a daytrade order)? If I let it stay will it for example be able to buy the stocks after weeks/months/years?

• Can I cancel the limit order? If so, do I lose the transaction fees, or would I pay the transaction fees after I bought the stocks at the price I put the limit order on?

• Are the transaction fees or any other fees becoming higher the longer you wait (for example if it takes weeks to reach the price you want to pay for the order)?

• A few weeks ago the Ethereum went from $390 to $0.10. Does anything stop us of putting limit orders for every stock at an insanely low price (such as $0.10) so that we've got those stocks immediately if such a thing happens again?

Thank you!

Submitted June 27, 2017 at 10:50AM by spencersss http://ift.tt/2tgw2yf