All or none
AON, as it's usually referred, to as is pretty easy to understand. Simply put when a trader uses AON on a buy order he is telling his broker to either buy all the shares he wants in one trade or don't buy it at all. If the correct conditions are not met by the end of the trading day, the order is canceled. The same is true for AON sell orders. Often times brokers fill partially fill orders in order to try to get the most advantageous price for their customers, especially those using limit orders. AON prohibits a broker from doing that.
Use to Investors
AON doesn't make a whole of sense to use, unless you are using a limit order on a stock that has low float and yo are very particular about what price you want.
Related Fool Articles
Recent Mentions on Fool.com
- Private Equity's Secret That Could Make Apple Shareholders a 100% Return
- Will Apple Waste Its Best Years?
- After Triple Digit Returns in 2013, Can Zale Keep Delivering for Investors?
- What Will Googorola's iPhone Killer Look Like?
- A Foolish Interview With Michael Mauboussin