How can one create a GTT order on Zerodha?
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- Updated On:06-Jul-2022
- Replies:1
Short Answer
GTT or Good Till Triggered, is a feature of Zerodha that lets users execute trades based on a specific price point. It's quite helpful for those that want to trade in the stock market but have no time to keep track of their investments.
Detailed Answer
GTT stands for "good till triggered," and it's a feature that enables traders based on the criteria that might be met. Its specially designed for those who don't actively trade in the stock market but want to execute trades as and when the prices reach the defined or entered price point. However, the features is only available in Zerodha, and no other broker has this order.
What is GTT?
GTT is a type of order placed by an investor or trader on Zerodha's trading platform where an order is placed based on the investor's requirements and gets executed when the specific criteria are met. For the same, the order might be executed when possible. It may take a day or several days, based on the order type. But then it might get canceled is the investor cancels it.
The order is valid only for a year before it is dropped. Moreover, a GTT can be placed for any order type. Users can use these features to buy, sell, set stop losses, market orders, trailing stop losses, and much more. But there are some limits to GTT and what you can do with it. For the same, they have been provided below.
Limits of GTT
• Only 50 GTT orders are allowed per customer.
• There is no GTT orders for intraday/MIS order. But only for equity orders.
• Placements of such order is only allowed during market hours.
• The sell order placed under GTT could expire if the TPIN isn't registered.
• Managing GTT is undertaken by the investors. There is no additional support offered.
• A GTT triggered isn't always an execution guaranteed.
• GTT orders are only available for NIFTY and BANK NIFTY F&O contracts.
• The order triggered under GTT has to be executed again if not executed.
Placing a GTT order on Zerodha
• Login to your Zerodha account. It could be a kite mobile or kite desktop version.
• Once you're in it, choose the stock you want, and on the bottom right corner, you should see a GTT order sign. You can use that to buy or sell shares. This was for the mobile version. For the desktop version, choose the share and then right-click on it. Choose the place GTT option.
• Then choose the buy or sell option, which chooses the trigger type, which could be single or OCO.
• Enter the definitive prices and the quantity that you are looking to sell or buy at the given price point of your choice.
• Click on the agree button and OK after that.
• You can swipe on the mobile version to place the order after entering the necessary details.
Bottom line
GTT is a great way for investors keen on trading but have no time to look at the charts all day long to trade and execute their trades. Moreover, the Kite application does send out notifications if the order has been executed for you to check it out and do the needful. It's one way to help traders get the best possible outcomes of their trading experience.
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Discussion (0)
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