What is the Good Till Triggered (GTT) feature?
The Good Till Triggered (GTT) feature is an order that stays active until the trigger condition is met. The validity of the trigger is one year. A limit order is placed and executed if there are sufficient funds in the Zerodha account. A notification is sent to the registered email ID and mobile device every time a GTT is triggered, and an order is placed on the exchange.
The trigger is valid only once. If the order is triggered and placed but not executed, the GTT order has to be placed again. To know how to place GTT orders, see How to use the Good Till Triggered (GTT) feature?
There are two types of GTT orders:
- Single Trigger
Only a single trigger can be set, where the order is placed at the exchange when the trigger price matches or breaches the Last Traded Price (LTP). The single trigger can be used to enter new or exit positions.
One Cancels the Other (OCO) trigger
In an OCO trigger, both stop loss and target trigger can be set. When either of the triggers is hit, the order is placed at the exchange, and the other trigger is cancelled.
GTT is completely free, and there are no additional charges for using it.
Did you know?
- If the account is opened without submitting a physical POA/DDPI, shares must be pre-authorised for sell GTTs. See What is the CDSL TPIN and how do I use it to sell my stock holdings?
- GTT can be placed at any time of the day, but the orders will be triggered and placed only during market hours.
- Zerodha’s dealing desk does not support GTT. Clients have to place, cancel or modify GTT orders on their own.
- Order history for triggered GTT is visible only on the day it is triggered and will not reflect from the next day.
- A maximum of 100 active GTTs is allowed at a time for one account.
- GTTs for shares having corporate actions like a bonus, dividend, stock split, rights, amalgamation etc., having greater than 5% of market value are cancelled on the ex-date. This ensures that the order is not triggered at a random price. Here the GTT order has to be manually placed post the corporate action if necessary. See Why are my GTTs Disabled/Cancelled/Expired/Rejected?
- GTT is available only for CNC and NRML product types. It cannot be used for other product types.
- If a stock changes the category when there is a pending GTT order, it is cancelled. See What do the different groups on NSE and BSE mean?
- GTT order is triggered even if a stock opens a gap up or down, having breached the trigger price. For example, if shares closed at ₹90 on Monday and opened a gap up at ₹110 on Tuesday, placing a buy GTT with the trigger of ₹100 and limit price of ₹102, the order is triggered and placed at a limit price of ₹102. If it is not executed by the EOD, it is cancelled like normal orders.
- Buy GTT OCO can only be placed in F&O contracts.
- Only NRML order types can be used in GTT OCO for index futures and options.
Visit zerodha.com/tos/gtt to know all the terms and conditions.