GTT in Zerodha is an acronym for the Good Till Trigger feature offered by Zerodha that lets the investor select a trigger price and a set of predetermined conditions that as and when are met, an order is placed automatically.
So, GTT or Good Till Trigger simply allows an investor to choose a trigger price and a fix of predetermined conditions. No order can be placed until the specific requirements are met. In case the limit price is breached on a particular day, all the orders of that day would be canceled at the end of the trading session.
The trigger price set by you is valid only for one time. In case the order is placed but not executed for some reason, it has to be replaced.
1.GTT option is only allowed in CNC type orders in the Equity cash segment with NSE or BSE and NRML orders with NSE.
2.If the Last Traded Price (LTP) of a stock goes higher than the trigger price selected, an order would be placed at the later price. The same goes in case LTP opens at a difference from the trigger price.
3.To place a GTT order you must have the appropriate funds for it in bank and sufficient amount of holding in your Demat account, failing which your order can be cancelled at the discretion of Zerodha.
4.People using GTT can not use the Call and trade feature of Zerodha.
5.At a particular time, you can have a maximum of 50 pending GTTs.
There are two types of GTT features i.e Single trigger and OCO.
1. Single Trigger:
the trigger price selected by you that either triggers a target order, in case LTP is greater than the current market value or a stop-loss order in case the LTP is lesser than the current market value.
It stands for 'One cancels other' where two prices are entered by you. One is the trigger price above the current market price and the other is below the current market price, acting as stop-loss price. This feature applies to stocks already in your portfolio.
Orders may not be replaced or rejected by Zerodha under the following circumstances:
1.If the trigger price is not met within 365 days of placing the request, the order is canceled.
2.If the minimum required difference between the LTP and Trigger price is not met, according to the legal clauses of Zerodha broking company.
3.In case there is a significant change in the company whose stocks you are holding such as delisting, mergers, acquisitions, dividend raise, etc., the GTT orders may be canceled.
4.If the trigger price is breached during a particular day due to gaps in the opening and closing of trading sessions during the day.
5.If you used the call feature, the GTT order will not be placed as Zerodha does not allow the call and trade feature for such type of orders.
6.If the GTT is triggered for an options contract, it would be rejected as Zerodha does not allow this.
7.In the case of a derivative contract, if the GTT exceeds the contract's execution range set by Zerodha, it may be canceled.
For the first three months, no amount is charged from the client for using the GTT service. After this introductory offer ends, it is upon the discretion of Zerodha to place an amount for GTT orders.
You can find all your triggered and executed GTT orders on the Zerodha trading software, Kite. It is available in the Kite order book under the GTT tab.
Yes, you can place a GTT order using the Kite mobile application. Click on "Create GTT" available on the right-hand corner to proceed with your order.
You will receive a notification from Zerodha when your trigger price hits and an order is placed.
GTT orders can be used as a passive investment tool. If one has conviction in a particular stock and wants to add more of it to their portfolio then GTT is the best way to get that done. By simply placing a GTT order with the desired quantity and price will get the job done. This way the order will not need any daily monitoring and will be executed automatically when the price reaches your desired price.
GTT orders are targeted for those traders looking to invest in equity or other segments unless and until the price of the segment they want to invest in comes down to the desired price. It could be a week, month, or even a year, and once placed, it would execute the order of buying till the desired price is reached.
Zerodha has made trading very easy after introducing GTT. As I am a swing trader so I use this interesting feature every single time for my trades and it helps me alot to make trading stress free.
It is a very good feature which can also be used to cut down your emotions. For example, Reliance Ltd. gave multifold returns to traders and they have made positions at every level due to multiple investments coming in, but now due to Amazon-Future Coupons case, they are incurring losses. So, I feel it can also help you cut down emotions like excitement, fear, anxiety, etc.
Say, Company A is currently trading at ₹800 but you would like to buy it for ₹720. In this case, we can place a GTT order that shall be active until the price reaches ₹720 or 1 year whichever is earlier. Right! And, I feel GTT is all the more important for an investor who can't or doesn't keep a regular track of the stocks markets, I mean a not so active trader. Isn't it so?
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