Marketable Limit Order & Partial Fills

[actionjackson 2]

I will be getting setup with DAS Pro this weekend, quick question about marketable limit orders from Andrew's book in advance.

If I get partial fill, will remaining quantity of order be active unless i cancel it?

here's the scenario:
ask price = 50.25 / bid price = 49.75
i place marketable limit buy order for 100 shares @ bid price + $.05
I get a partial fill of 50 shares @ 49.80, but then rest of it doesn't fill.

does that stay open until all 100 shares are filled @ bid + $.05, to where first 50 get filled @ ie: 49.80, but then next 50 get filled at 50.70 (once price goes up to say, ie: 50.65), all from my intial order?
or.... is it that only 1 transaction, to where if i only get a partial fill, the order is complete, even if not for full 100.

just wondering if i'll need to manually cancel orders that get partial fill, or if they close out even will partial fill.

[Bryan W 50]

In my experience, while using the handling instruction ANY, the order will fill as much as it can within the limit, and then go away. If you use the instruction "AON", if it can't do all of the shares within the limit, then it won't fill at all. There is one more instruction, called "N Hold", but I don't know what that one does. If you use a market order, then it will just fill everything no matter the price which is why we use it in a stop order for most part; "get out no matter what!"