BAJAJ BROKING
September 23, 2023
6 mins read
A GTT (Good Till Triggered) order is a facility that allows investors to place an instruction in the stock market that stays valid until a specified trigger condition is met. Unlike regular market or limit orders that expire by the end of the trading day if unexecuted, a GTT order remains active for a much longer period or until it is either triggered or manually cancelled. This feature is especially useful for investors who follow price-specific strategies but cannot monitor the market constantly. Once the market price reaches the predefined trigger level, the system converts the GTT into a live limit order and sends it to the stock exchange. GTT orders are available in two formats: single trigger and one-cancels-other (OCO). The single-trigger format allows entry at one predefined price, while OCO enables setting two triggers, one for initiating a position and the other to close or reverse it. This flexibility supports long-term planning and eliminates repetitive order entry.
GTT orders act as a structured planning tool that helps investors automate their trading decisions. It reduces emotional and impulsive actions by enabling pre-planned entries and exits based on price levels.
GTT allows you to predefine a trigger price and execution level, enabling automatic placement of the order when conditions are met. This ensures you do not miss opportunities due to timing constraints or sudden market movements.
You do not need to log in and place orders manually every day. Once a GTT instruction is created, it stays active until the condition is fulfilled or the order is cancelled by you.
You can plan your trade in advance and avoid reactionary decisions during intraday volatility. This helps in maintaining discipline and consistency in your investment approach.
GTT works well for swing or positional strategies where trades are executed based on specific levels of support or resistance derived from analysis.
Also Read: How to use Pivot Point in Intraday Trading
Placing a GTT order is simple and accessible through most app-based trading platforms. The order becomes live on the exchange only when your specified trigger condition is satisfied.
Access your trading account through a web or mobile platform. Navigate to the stock or security you are interested in and select the GTT order option.
Decide whether you want a single-trigger order or an OCO order. In an OCO, two opposing price points are set, and the activation of one cancels the other.
Enter the trigger price, which will activate the order, and the limit price, which defines the maximum or minimum price for execution. These should reflect your expectations and strategy.
Review all entered details for accuracy and submit the instruction. It will remain dormant in your account until the market reaches the trigger price.
Efficient management of GTT orders is important to ensure they stay aligned with market conditions and your evolving investment plans. Regularly reviewing and updating these instructions helps avoid unexpected outcomes.
Your broker’s dashboard will show a list of all pending GTT instructions. Review them periodically to ensure they still align with your strategy and market view.
As markets evolve, the price targets you initially set may no longer be relevant. Modify the trigger and limit prices accordingly to reflect updated analysis.
If your focus has shifted to other stocks or if the rationale behind the order has changed, cancel the instruction to prevent unintended execution.
Some platforms set an expiry for GTT orders (e.g., one year). Always be aware of the broker’s rules to renew or reissue instructions when necessary.
Charges for GTT orders only apply if the instruction is triggered and converted into an exchange order. No costs are involved in setting up or maintaining a GTT order that remains untriggered.
You do not need to maintain margins or allocate funds in advance. The platform does not block any amount when you place a GTT instruction.
Once triggered and executed, your order attracts regular brokerage, exchange transaction charges, STT, GST, and other applicable taxes.
It is your responsibility to ensure sufficient funds (or stock in the case of a sell instruction) are available at the time of execution. If funds are insufficient, the order may fail.
Most brokers do not charge extra for providing the GTT facility. You only incur the usual charges associated with a standard equity trade.
Execution of a GTT order occurs only after the market reaches the specified trigger price. Once activated, the order is sent to the exchange and behaves like a regular limit order.
The trigger is based on the last traded price (LTP). When this price matches your trigger, the system converts the GTT into a limit order.
It is not placed at market price but at the predefined limit. This allows you to control the price level at which the order may be executed.
If the price is reached but the volume is low, your order might not be executed fully or at all. Execution depends on matching counterparties being available.
Once sent to the exchange, the limit order remains active only for that day. If not matched, it is cancelled and will need to be reissued.
GTT orders offer flexibility and can be changed or withdrawn at any point before they are triggered. This ensures you can respond to shifting market situations with full control.
You can update both the trigger and limit prices before activation. This allows adjustments in response to technical or fundamental updates.
Untriggered orders can be cancelled easily through your broker’s dashboard. No charges apply for this action.
You can shift from single-trigger to OCO orders or vice versa if your strategy changes, allowing you to handle both breakout and breakdown levels.
Most platforms apply these changes immediately, so you can be confident that your updated instruction reflects your current market stance.
GTT orders are useful for individuals who have predefined price levels in mind and prefer to automate their strategies instead of actively monitoring the market.
Those holding stocks for months or years can use GTT to automate exits at certain levels or add positions during price dips.
Professionals or individuals with other responsibilities can use GTT orders to act on price changes without logging in frequently.
Technical or fundamental traders who use chart patterns or valuation thresholds can set GTT orders as part of their execution plan.
Investors managing diversified holdings can use GTT to streamline portfolio adjustments, maintaining discipline without daily oversight.
GTT orders offer automation and convenience, reducing manual effort and aligning decisions with planned entry or exit levels. They provide structure and predictability in market actions.
Once the price condition is met, the order is automatically activated. This helps in responding promptly to price changes without delay.
GTT orders save time and effort, especially for those who do not wish to follow the market every day.
By defining targets in advance, GTT reduces impulsive actions and brings consistency to investment decisions.
GTT orders do not incur additional platform charges, allowing you to automate trades without increasing your trading expenses.
While GTT orders offer many benefits, they also come with risks and limitations that investors must account for to avoid adverse outcomes.
Even if the trigger is activated, the order might not be executed if market conditions do not support it at the specified price.
GTT is only permitted for equity delivery, excluding its use in intraday, margin or derivative trades on most platforms.
Once the order is triggered, it is sent to the exchange without reconfirmation, which might not be ideal during volatile phases.
Depending on the broker, GTT orders may expire after a fixed period (e.g., 1 year). You must track validity and renew them as needed.
You can use GTT order to buy or sell stocks at your preferred price. As soon as the stock price matches your GTT trigger price, the order will be executed. If the stock price does not reach your level within a year, the order will expire.
Suppose you want to invest in ABC stock company, which is trading at Rs 441. But you think that the stock is overvalued and you want to buy it at Rs 420. You can place a GTT buy order at Rs 420. If the stock price drops to Rs 420, the GTT order will be triggered and you will buy the stock at this price.
GTT (Good Till Triggered) is a feature that lets you place an order that remains active until the trigger condition is met. The trigger condition is based on the Last Traded Price (LTP) of the stock. The trigger is valid for one year. When the trigger is met, a limit order is placed and executed if you have enough funds in your account. You will get a notification on your email and mobile device whenever a GTT is triggered and an order is placed on the exchange.
The trigger works only once. If the order is placed but not executed, you have to place the GTT order again.
There are two types of GTT orders:
You can set only one trigger where the order is placed when the LTP matches or crosses the trigger price. You can use the single trigger to enter or exit positions.
You can set both stop loss and target triggers in an OCO trigger. When one of the triggers is hit, the order is placed and the other trigger is cancelled.
GTT is free of cost and has no extra charges.
Also Read: Guide for cancellation of shares or placing cancel order
GTT is a relatively new feature that simplifies trade automation. It has gained popularity among retail investors seeking control with minimal engagement.
Not all brokers support GTT. It is mostly offered by discount brokers that provide mobile or web-based platforms.
Currently, GTT orders are restricted to equity delivery transactions and are not permitted in derivative or intraday segments.
Since GTT activates based on price conditions, it is not suitable for strategies needing immediate execution or market reaction.
The GTT trigger works only when the LTP reaches the set trigger value. It does not activate based on bid or offer prices.
GTT (Good Till Triggered) is a feature that lets you trade with ease and convenience. You can use GTT to place buy or sell orders of any stock at market or limit price. These orders are valid for one year and will only be executed when the stock price reaches your desired level. Here are some of the advantages of using GTT:
GTT (Good Till Triggered) are an alternative to GTC (Good Till Cancelled). GTT allows passive investors in the stock market to set their profit and loss targets without constantly monitoring the markets. However, GTT still lacks some features that GTC offers. Therefore, GTT should be improved to make it more comparable to GTC.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://www.bajajbroking.in/disclaimer
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No, GTT orders are not applicable to intraday trading. They are designed exclusively for delivery-based equity transactions through recognised exchanges in India.
The number of GTT instructions allowed depends on your broker’s policy. Some may allow unlimited active orders, while others may impose a cap per stock or account.
If the market touches the trigger but no order is matched at your set price, the instruction expires for that day and must be placed again manually.
There are no additional fees for placing a GTT order. Regular brokerage, exchange transaction charges, and statutory levies apply only when the order is executed.
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The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
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Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimer
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