What is GTT in Upstox? Goods till Triggered
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- Updated On:03-Mar-2021
- Replies:1
Short Answer
GTT is a feature which works when the price set by an individual is met in a specific period. Let's gather some more details on GTT or Goods Till Triggered feature offered by Upstox and other stockbrokers in India.
Detailed Answer
About Upstox:
Upstox is a discount broker or a trading platform which offers commodity, equity, and currency. It has paperless account opening and is also one of the India’s fastest growing and developing brokers. It is also backed up by Mr. Ratan Tata and holds 1.33% stake in this online platform. Trading, research, charting, and several other trading features are available on the Upstox trading platform. It is also a listed member of NSE, BSE, and MCX.
Meaning of GTT:
- GTT- Good Till Triggered is also called as GTC- Good Till Cancel.
- GTT or GTC means that the order you sent to the broker is placed in the order book but triggered only when a particular price is sparked.
- Trigger price specifically means a price set by an individual on any buy or sell order which will only be executed once its met.
- That trigger of price on the order will be valid for one year.
- After one year of its validity, it cannot be used anymore so an individual needs to reset it.
- When a trader wants to make sure that his purchase order does not operate at a value greater than his trigger price and his sell order does not operate at a price lower than his trigger price, he uses this order method.
- It is not essential that if the trigger value is set, it will be executed.
- Once the trigger price is set but not executed for any reason then you need to reset it because it is effective for one time only.
GTT /GTC Facts in Detail:
- Usually, it is a paid feature as granted by the brokers.
- It is accessible only during the market hours.
- It can be cancelled anytime without any restrictions.
- It can be placed both on buy and sell orders.
- It is also a great decision for people who cannot monitor the stock market or the trading platforms on a regular basis.
- On the NSE and BSE, the GTT feature is only available for CNC style orders in the Equity cash segment.
- One account can have a maximum of 50 active GTTs at any given time.
- An order will be put at the chosen limit price if the Last Traded Price (LTP) of a scrip leaps greater than the trigger price chosen, or if the LTP activates at a gap up or gap down violating the specified trigger price.
Why Trigger Price is not executed?
Limit orders that are not under the circuit price are rejected and will not be applied.
Limit orders:
It can only be bought and sold at a particular price as in buy price at a limit price or lower and selling price at only limit price or greater than that. Basically, a particular limit is set for buying a selling that is the limit price.
Circuit price:
The regular price range in intraday stocks that shows instability and movement is called circuit price.
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Discussion (0)
GTT (Good till Triggered) is a type of order that lets you Buy or Sell stocks at a Limit price. A GTT order is similar to a Limit order. The main difference is the validity of the order. A Limit order is typically valid for 1 day whereas a GTT order is valid for 1 year. GTT order is provided by many Full service & Discount brokers.
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