The Good Till Triggered (GTT) feature is an order that stays active until the trigger condition is met. The validity of the trigger is one year. A limit order is placed and executed if there are sufficient funds in the Tradejini account. A notification is sent to the registered email ID and mobile device every time a GTT is triggered and an order is placed on the exchange.
Buy GTT order is used to create triggers to buy instruments. With a GTT buy order, when the trigger price is hit, a buy order with the limit price mentioned is placed on the exchange.
Sell GTT is used to exit holdings or short-sell F&O contracts. A target order or both stoploss and target orders can be placed using sell GTT. The sell GTT order for holdings is executed only if the shares are in the demat account and the order is filled on the exchange.
Where to Find GTT Orders
There are two types of GTT orders:
- Single Trigger
Only a single trigger can be set where the order is placed at the exchange when the Last Traded Price (LTP) matches or breaches the trigger price. The single trigger can be used to enter new or exit positions.
- One Cancels the Other (OCO) trigger
Both stop loss and target trigger can be set in an OCO trigger. When either of the triggers is hit, the order is placed at the exchange, and the other trigger is cancelled.
GTT is completely free, and it has no additional charges.
A triggered GTT is executed only if the limit price order is filled on the exchange. For better chances of execution, place the limit price above the trigger for buy GTT orders and below the trigger for sell GTT orders. The further away the price is from the trigger, the more likely the execution.
How to use the Good Till Triggered (GTT) feature?
Buy GTT
To place a GTT order for buying below the Current Market Price (CMP), the trigger and target price must be entered below the CMP.
- In this scenario, the CMP of BSE is ₹2405.
- GTT is placed by entering ₹2001 as the Trigger price and ₹2000 as the target price.
- When the CMP hits the trigger price, a buy limit order for ₹2001 is placed on the exchange.
Sell GTT- Single
To place a GTT order for selling above the Current Market Price (CMP), the trigger and target price must be entered above the CMP.
- In this scenario, the CMP of Voltas is ₹1452.
- GTT is placed by entering ₹1600 as the Trigger price and ₹241 as the target price.
- When the CMP hits the trigger price, a sell limit order for ₹241 is placed on the exchange.
Sell GTT – OCO (One Cancels Other)
- Assume the current price of ICICIBANK is ₹1233.
- A stop loss order is placed to sell at ₹1199 with a trigger price of ₹1200.
- A target order to sell is placed at ₹1399 with a trigger price of ₹1400.
- If either target or stop loss order price conditions are met, a sell CNC order is placed, canceling the other condition.
GTT is completely free, and it has no additional charges.
