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What are GTT (Good Till Triggered) orders?

GTT stands for "good-till-triggered" order. It's a type of order that remains active in the system until it is triggered by a specific price. Unlike other types of orders, which expire after a certain period of time, GTT orders are good until they are either executed or cancelled by the trader. This makes them useful for traders who want to set up a long-term trade plan and don't want to worry about constantly checking and adjusting their orders. GTT orders can be used with various order types, including market, limit, and stop-loss orders.

If you place a GTT order on Tiqs, the validity of GTT order is one year for Tiqs users. GTT orders will be placed though limit order instead market order. For every time when the GTT will be triggered, you will get notification on your registered phone number as well as on your registered E-Mail Id. GTT orders are placed on exchange.

GTT orders are mainly two types:

Buy GTT:

Buy GTT orders are used to buy instruments to hit the trigger prices. A buy GTT order is a type of order to purchase a security at a specified price or better. Unlike a regular buy order, which is typically only for the current day, a buy GTT order remains open till the year on Tiqs or the order is cancelled. In other words, it is a standing order to buy at a certain price, regardless of when that price is reached.

Ex: In this scenario you are expecting below price from the current market price. Like if the current market price of Eicher Motor is 3000 and you are expecting that fair value of the stock is 2500 so you will set 2510 as trigger price. You will Buy GTT at 2500. When the price will trigger to 2510, you will get the notification and trade will execute at your target price.

GTT BUY

Sell GTT Single:

Similarly, a sell GTT order is a standing order to sell a security at a specified price or better. In this case, the order remains open until the specified price is reached or the order is cancelled. This type of order can be useful for investors who are looking to sell a security at a certain price, regardless of when that price is reached.

For ex: an investor might set a sell GTT order at a certain price point if they are looking to lock in a profit on a security they own. Once the order is triggered, the sell order will be executed at the specified price.

In this scenario, you are expecting a higher price from the current market price. Like if the current market price of Eicher Motor is 3000 and you are expecting that price of the stock may go up to 3500 so you will set 3490 as trigger price and then you will place order Sell GTT at 3500. When the price will trigger to 3490 you will get the notification and trade will execute at your target price.

Sell GTT OCO (One Cancels Other):

Sell GTT OCO stands for “Sell good till triggered with an OCO”. This type of order combines the features of a sell GTT order with the OCO condition. The OCO condition means that if one of the specified orders is executed, the other will be cancelled. In other words, it’s a way to create a conditional order that has two potential outcomes.

For ex: In this scenario also, you are expecting a higher price from the current market price. and if the current market price of Eicher Motor is 3000 and you are expecting that price of the stock may go up to 3500 so the price will trigger at 3500 and your order will execute at 3500. At the same time if the stop loss order is placed at 2800 then it will trigger and execute at 2800. Within a time period if one of the prices is triggered then a sell CNC order will be placed while the other one will be cancelled.

Did you know this?

  1. GTT is completely free and it has no additional charges on Tiqs.
  2. If the POA (Power of Attorney) or DDPI (Demat Debit and Pledge Instruction) is not given in the favour of Tiqs then holdings need to be authorised using CDSL TPIN to authorise the sell transaction. Click here to generate a TPIN.
  3. Only regular order types can be used in GTT OCO for index futures and options.
  4. Buy GTT orders can be placed in only futures & options contracts.
  5. The validity of GTT order for equity will be for only one year and afterwards the orders will be automatically cancelled.
  6. From one account you can place a maximum 100 active GTT orders simultaneously.

Click here to Read terms & conditions before placing GTT orders.