How can I place market orders for GTT?
For instance, the current price of Tata motors is Rs 101.40 and you want to buy the stock if it falls to Rs 80. You can set a buy GTT with a trigger of Rs 80 and a limit price of Rs 85:
In this case, as soon as the trigger price of Rs 80 is hit, a limit order at Rs 85 will be placed. This order will execute at the best available price up to Rs 85. You can choose a higher limit price to increase the chances of trade execution.
Similarly, if you want to sell Tata motors when it rises to Rs 120, you can set a sell GTT with a trigger of Rs 120 and a limit price of Rs 117:
In this case, as soon as the trigger price of Rs 120 is hit, a limit order at Rs 117 will be placed. This sell order will execute at the best available price as low as Rs 117. You can choose a lower limit price to increase the likelihood of trade execution.
- If your limit price exceeds the price bands for the day, your order will be rejected when it triggers.
- GTT is completely free and there are no additional charges for using it.