What is the Good Till Triggered (GTT) feature?
The Good till triggered (GTT) feature works like an order that is active until the trigger condition is met. This trigger will be valid for one year. So, anytime the price condition within this period is met, your order will be placed and executed, provided there are enough funds in the trading account, and your limit price order is filled on the exchange. This trigger set is valid only once, so if the order is placed and not executed for any reason, the GTT has to be placed again.
OCO (One Cancels the Other) trigger
When you buy stocks, you can place an OCO trigger where you can set a stop-loss and target trigger %. When either of the triggers is hit, the order is placed at the exchange and the other trigger is cancelled. You will get the GTT trigger option when you place a CNC buy order.
For your existing holdings, this can be used to set from the holdings page.
You can place a single trigger where the order is placed at the exchange when the trigger price matches or breaches the LTP. The single trigger can be used to enter into new positions or exit existing positions.
Check some illustrations on how the GTT feature can be used in this article.
- You need to pre-authorise the delivery for your sell GTTs if you have opened your account without submitting a physical POA.
- When a GTT is triggered, and the order is placed on the exchange, it will be executed only if the limit price order placed is filled on the exchange. To be guaranteed of execution, make sure to place your limit price higher than the trigger price for buy GTT orders (acts like a market order with the protection of your limit set), and sell limit price lower than the sell trigger price for sell GTT orders. The further away from the trigger, more likely to be guaranteed execution.
- The trigger set on a GTT is valid only once. So, if an order fired by a GTT is not filled at the exchange for some reason, you will need to manually place the order again.
- All orders will be triggered and placed only during market hours.
- Orders placed at the exchange by GTTs that trigger will only be filled if you have enough funds for buys and if you have enough stock in your demat for sells when the order is placed on the exchange.
- Our dealing desk does not support GTT. You will have to place, cancel, modify these on your own.
- A GTT is valid for a maximum of 1 year from when it is placed. At the end of 1 year, it will be cancelled and will need to be re-created if necessary.
- Once a GTT is triggered, you can see it in the GTT order book only on the triggered date, this will not reflect from the next day.
- Whenever there are corporate actions like a bonus, dividend (if greater than 5% of market value), stock split, etc., GTTs for the corresponding stocks will be cancelled before the corporate action ex-date. You will have to replace the order post the corporate action to ensure the order is not triggered due to the movement of stock price due to the corporate action.
- A maximum of 50 active GTTs is allowed at a time for one account.
- The GTT order will be triggered even in case a stock opens gap up or gaps down, having breached your trigger price. For instance, if the stock closes at 90 on Monday and you have placed a buy trigger for 100 with a limit price of 102. On Tuesday, if the stock opens gap up at 110, then the order will be triggered and will be placed at the limit price of 102. In case the order is not executed by the EOD, it will get cancelled by the exchange like normal orders.
- An email is sent to you every time a GTT is triggered and an order placed on the exchange. Also, make sure to check and agree to the terms and conditions before placing a GTT.