The Tirex Corporation (TXMC)

[Until2020, formerly Until2017]

Good points casper and volt.

I have used AON, and minimum quantity, a lot in the past.

I no longer do. First, Schwab cancels the "minimum fill size" on orders for most of my subbies. THEY SAY THE MMs won't take the order. A fight I can't win. NITE is the one they say is the main MM refusing to honor Minimum Order Size..

As for AON orders, with the subbies, if I am bidding aggressively at or near the bid, AND USE AON, I won't get fills from the MMs. EVEN IF THE STOCK IS MOVING NICELY, I can have an AON order for 500K shares go unfilled, while TEN MILLION SHARES GO FLYING BY ME, at my bid, or even lower at rare times.

I take the risk, and bid without using the AON — WHICH IS RISKY AS YOU SAY — and I do get fills of 5000 shares for $2.00, which really hurts.

BUT NOT TOO OFTEN. So as long as the stock is moving, (many millions of shares) not using All or None poses no risk. And if it is not moving well that day, I can get stuck with some tiny fills (which is bad)

I GUESS WHAT I AM SAYING IS THAT THE RISK OF GETTING TINY FILLS is not as bad, as not getting any fills at all, when I am building a large position in a stock like Tirex.

Now the question of whether it was wise — to aggressively acquire tens of millions of shares — in The Tired Tirex Turkey — call me a damned F00L, I am totally guilty as charged.

And if you are only building a position of 100K shares, or even as many as 500K shares, using AON is probably the wisest strategy.

Until2017