Quick strategy question. What is the point of using an AON, all or none" strategy when buying/selling shares? The one reason I can think of is perhaps you're only investing a small amount and want to make sure you have enough in the play to turn a profit to at least cover transaction costs.
Is that the only reason? Using an AON order I would be afraid of missing the possible buy/sell that you can make. Matt
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LOL I'll tell you one good reason for it. I had an order in last week to buy 100k of a stock. I got a partial fill for 45k, leaving 55k. Well today.. hold on to your hat, 5 shs were bought, for a whopping total of $00.0105, NOT including commmission! Yup.. one cent!! I called Ameritrade, and they're giving me a free trade, instead of knocking off the commission, but you better believe I re-entered that trade as an AON !! I don't normally trade AON or FOK, but for some stocks, it's better than getting nickled and dimed over a few days (if it's a GTC order too) and paying all the commissions.
-------------------- "As long as there are dreamers, there are dreams that will come true."
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I used to never tick the "All or None" until I sold some shares and about half sold one time and the other half a few minutes after, so I got charges Scottrades $7.00 commission both times. Live and learn I guess.
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Pros...you can buy or sell all of the shares that you want to trade...no partial fills or multiple commissions.
Cons...AON trades always go the the bottom of the market makers list to get filled...you may not be able to buy or sell any of the shares that you want to trade.
You better doublecheck your records. In the going on 4 years I've had Scottrade, I've never been charged full commission on partial orders. What they do is break the commission up for the various fills. So if half the order fills, and let's say the stock was worth $450, you might get charged $8.10 for the first fill, $1.15 for the second, on a penny stock.
The only time you'd get charged fully was if you cancelled the order after a partial fill and resubmitted, or the order expired at the end of the day (and it was Good Til Cancelled) and the rest of the order filled the next day -- then yes you'd get charged full commission both times.
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You are right Phoenix. I guess I just 'assumed' the double commission on that one. I just checked now and got charged $7.58 and then .21 on the second lot. Thanks for the insight.
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Ah good, glad you didnt get screwed then I'd be on the phone demanding my money back
My experience has been, using AON has cost me not getting the stock I want at the price I want (or not at all). Of course, your mileage may vary.
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quote:Originally posted by ShadowLurker: I used to never tick the "All or None" until I sold some shares and about half sold one time and the other half a few minutes after, so I got charges Scottrades $7.00 commission both times. Live and learn I guess.
Shadow Ameritrade charges only one full commission on all partial trades (same order, of course) that are completed during the same trading day. But they charge another full commission if part of a GTC order flops over to another trading day. You might ask Scottrade about that.
-------------------- Everything I say is only my opinion ... right or wrong.
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I got stung bad by not checking the "All Or None" box with Scottrade. Had a limit order in for HMSG for .0053 18,000 shares. Dang Scottrade charged me $7.00 for 10 shares. ONLY 10 shares out of my 18,000 I wanted. Stock will have to get to $1.41 PPS just to break even after the $7.00 fee for selling.
I even adjusted my limit price to .0055 when it was at .0054 and it never executed. Ended the day at .0058
Guess I will have 10 shares of HMSG for the rest of my life, since I'd lose even more on it if I ever sold it.
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SL, that's worth a call...explain politely but firmly why you're confident that the fill was not typical of a high-rated broker looking out for its client.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Never use a AON order on a stock that is running. Only because chances are you will miss your entry point only because everyone else is trying to buy the same price as you are. AON are good to use if you want to "Size" MM's. Meaning if you have 4 mm's at .01 you can put a AON order for 200k shares at .01 If you don't fill by law they are to move off the ask price or atleast raise the bid to attract sellers.
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quote: sprintpcs -------------------------------------------------------------------------------- Originally posted by 10of13: sprintpcs
I am new to...and JimSc and Will have made some wonderful observations that I have been able to learn from... --------------------------------------------------------------------------------
Would you be kind of enough to tell me what Teacher Will nd Jimsc has tought you?
Well for one they have showed me how to "SPOT" the loosers such as yourself...
I've went and read some of the things that you have posted...You're a very negative person..very sad...this is the last response that I will waste on you...eventually if all ignore you..you will go away...BYE BYE!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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quote:Originally posted by BuyTex: so what's your "anti-Momo" stance all about?
What Matto is doing here and what Momo did here is the same exact thing. I don't understand why Matto and his 2 post pumpers aren't banned. I guess Matto let the mods frontload with him. While momo frontloaded and still pulled off 500%+ after he did so. Back to the AON talk.
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quote: sprintpcs -------------------------------------------------------------------------------- Originally posted by 10of13: sprintpcs
I am new to...and JimSc and Will have made some wonderful observations that I have been able to learn from... --------------------------------------------------------------------------------
Would you be kind of enough to tell me what Teacher Will nd Jimsc has tought you?
Well for one they have showed me how to "SPOT" the loosers such as yourself...
I've went and read some of the things that you have posted...You're a very negative person..very sad...this is the last response that I will waste on you...eventually if all ignore you..you will go away...BYE BYE!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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quote:Originally posted by BuyTex: so what's your "anti-Momo" stance all about?
What Matto is doing here and what Momo did here is the same exact thing. I don't understand why Matto and his 2 post pumpers aren't banned. I guess Matto let the mods frontload with him. While momo frontloaded and still pulled off 500%+ after he did so. Back to the AON talk.
lol, you're answering me *exactly* as MoMo does...give me da background...WHY/HOW you against MoMO?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by BuyTex: so what's your "anti-Momo" stance all about?
What Matto is doing here and what Momo did here is the same exact thing. I don't understand why Matto and his 2 post pumpers aren't banned. I guess Matto let the mods frontload with him. While momo frontloaded and still pulled off 500%+ after he did so. Back to the AON talk.
lol, you're answering me *exactly* as MoMo does...give me da background...WHY/HOW you against MoMO?
cuz ya know what? doesn't sound as though you're as anti-Momo as you pretend, lol--sounds like you're defending ol' nomi_ugly...
know what I mean?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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I like AON but sometimes its hard to unload on lower volume stocks unless you only have a few bucks in them. A high volume stock with lots of action, dumping a few grand is no big deal.
My broker doesn't allow AON on stop loss orders.
-------------------- Well done is better than well said. Ben Franklin
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I'd be on the phone demanding my money back 
