All language subtitles for 3. All-Or-None, Fill Or Kill, Immediate Or Cancel, And Good Till Canceled Orders

And all or none order, you know, performs a certain purpose, so let's say you want to purchase a

substantial amount of a security, you're buying many units or shares of security.

And it may take a while for the order to be completely filled because you might have to have something

on the other side, let's say, you know, selling that security.

So they're bought and they're buying it from several different sellers, many different sellers to get

you to your total amount because you're buying a large number of units or shares of the security.

So it may take a while for the order to be fully completed.

And so you might end up paying different prices for different parts of the order because you're you're,

in effect, buying from different people, different other traders.

Let's say if you're doing, let's say, a market order, for example.

But let's say but you can place an all or none order, which requires that the security be purchased

in a single transaction or not at all.

That's the key.

I'm going to buy it all in all the substantial amount, all at once or not, or the order is not going

to be executed.

And that's what can be the downside of that.

However, that also means your order may not be executed at all if there are not enough shares available

to fulfill it.

And that all or one purpose, so to speak, are that all in one time.

So your order will stay open until it's canceled or it's executed.

That's one thing too, with all or none orders.

Typically, again, your broker will have different terms around it.

But typically that's the idea of an all or none orders.

It's out there and waiting to be fulfilled, which also gives you a little less control if it's taking

a long time to be fulfilled.

Another way you could approach this with a fill or kill order.

A fellow killer means it must be filled immediately in its entirety or it is automatically killed or

in fact, cancel.

You know, thus of a fill or kill order may never be partially partially executed either.

Right.

It's we're going to fill this immediately or the entire order is canceled or there's a certain period

of time by the end of the trading day.

You know, if it's not filled, it's killed at the end of a trading day.

The also have the immediate or cancel as another type of war type, and that's someone to fill a kill

but fill or kill.

But the difference between this kind of trader and fill or kill is that this order allows partial amounts

of the order to be completed.

So when shares are no longer available at the limit or a better price, buying or selling millions in

the order is canceled.

Right.

So you're you're you're buying at a limited price.

You're buying these shares.

You're buying partial amounts.

But if there's no longer I mean, shares are things available, then, you know, the rest of that is

immediately canceled.

So so fill or kill is like basically going to fill everything in its entirety or it's not going to be

executed.

Immediate or cancel means we're going to fill this immediately and we're going to allow partial amounts

to happen.

But if it doesn't happen in a certain time period in terms of what is determined to be immediate, then

the order is canceled or the remaining order is canceled and the orders are under orders.

And that's where they're good until the end of the regular trading day, at which point they're cancelled.

If they're not filled, that's a real typical way.

Well, these are kind of worked.

And all market orders, for example, are placed as de orders.

If if your order is in place by the end of the trading day, then it's not filled.

So if you're trying to get something a last trade in the last minute of the day, maybe it doesn't get

filled in your market order doesn't get executed there.

In terms of that, too, you also have what's called a good deal.

Cancelled order is a good time.

Kenza remains open until one of three things occur.

Right.

So one of the three things is going to occur.

Either your order is completely filled, which is kind of what you want.

Like I place an order in my order is filled or I cancel the order at any time.

You can cancel an order so you can cancel.

So it's good.

The order is good till cancel or a certain time periods is determined by your your broker online broker

has passed.

So it's not necessarily a date order.

You might have your terms around, let's say a good till Cancellara.

That's good for two days or three days.

However, you know the time frame so you can say, OK, I want my order to be completely filled.

Don't cancel it.

By the end of the day, I'm the only one who can cancel it.

But if it doesn't get filled by, you know, by a certain time period, then it's going to be canceled

as well.

It just won't be canceled by the end of the day.

So as far as risk with good till canceled or you may forget to place the order and then it's sitting

out there for a longer period of time and you might not want that trade to be executed, you know,

over at that later period of time.

So if you play the other thing to see, it plays a large trade with a good to cancel order status.

You know, you may pay it depending on your your broker a commission each day.

Your order is partially filled.

So let's say they actually partially filled today.

They feel a little bit more tomorrow.

They feel a little bit more the next thing, because that's just what becomes available.

Then you're paying commissions are a fee on that because your order is being filled by multiple transactions

over several days.

Typically, if your order is filled by multiple transactions on a single day, your broker should really

be charging you.

Only a single commission is typically how it works.

Again, each broker has its own fee schedule and how to look at it.

So look closely at that, particularly with things like, you know, good till cancel orders.

Orders where there might be partial filling of it to make sure you're only getting charged one fee and

you're not just getting overly crushed, refuse to look at that fee schedule from your broker on that.

But understand the good call or cancel orders are out there until you cancel them.

So, you know, just be aware that you might be putting yourself a little more exposure on that.