When doing orders by default I have always done "AON" All or None. As I understand it my broker does not charge additional trading fees as long as a "Non-AON" order is executed in multiple buys/sells - "As Long As" - the order is not modified between the individual trades and the individual trades are processed on the trading day.
Question: What are positives and negatives of using AON versus non-AON orders? Do you get usually faster execution? Is it better for large orders so the MM can split it up - so he will get to your order faster if it is Non-AON?
Thanks for your time! - Bill
Posted by Jo4321 on :
I'd say one of the positives is that you don't get stuck with only getting filled for 6 shares of a stock. I've had that happen before. A waste of commission.
A con would be just what you say, you may not get filled as easily if you're order cannot be split up. Your order could also get passed by entirely.
Jo
Posted by hedfe on :
dont aon go to the back of the line too?
Posted by retiredat49 on :
AON orders always go to the back of the line...I use GTC (good til cancelled) most of the time
Posted by T e x on :
"back of the line"
ya, with good liquidity, AONs run the risk of the price moving away from you cuz every unrestricted order that comes in will take priority. By the time no more unrestricteds are coming in, pps has prolly moved...
You shouldn't get more than one commish charge on partials filled that session; if a GTC carries over into the following day(s), then it's subject to more charges...