Why did my GTT order trigger but was not executed?
The GTT order allows limit orders to be placed at the exchange.
A limit order is an order to buy or sell a contract at a specified price. When you are buying, you instruct your broker not to go higher than the specified price. And when you are selling you instruct your broker not to sell below your specified price.
In case of limit orders, if the LTP has crossed beyond the limit price (or there are no buyers (for sell orders) or sellers (for buy orders) at the limit price), the order will remain open and cancel at the end of the trading session.
- Limit buy orders above the trigger price are more likely to execute and Limit sell orders below the trigger price are more likely to execute.
- In case a limit order is outside the circuit price , it is rejected and will not execute.
- GTT is completely free and there are no additional charges for using it.
- You need to pre-authorise your GTT sell orders using CDSL TPIN, if not the GTT will be triggered but the sell limit order is rejected.