{"id":226049,"date":"2019-07-22T13:30:18","date_gmt":"2019-07-22T08:00:18","guid":{"rendered":"https:\/\/zerodha.com\/z-connect\/?p=226049"},"modified":"2024-02-02T16:16:03","modified_gmt":"2024-02-02T10:46:03","slug":"introducing-gtt-good-till-triggered-orders","status":"publish","type":"post","link":"https:\/\/zerodha.com\/z-connect\/kite\/introducing-gtt-good-till-triggered-orders","title":{"rendered":"Introducing GTT \u2013 Good Till Triggered orders"},"content":{"rendered":"

I am happy to announce a long-awaited feature, GTC, but even better. Introducing GTT (Good Till Triggered) orders.<\/p>\n

GTC orders<\/strong><\/p>\n

GTC (Good Till Cancelled) orders are orders that are valid until cancelled. They are most commonly used for placing long term stoploss and target orders. Offering this has been a challenge because exchanges in India don’t support this feature; all pending orders are cancelled by the exchange at the end of every trading day. The few brokers who do offer GTC, essentially re-place all the pending orders which were cancelled by exchange once again on the next trading day. This is not a scalable solution.<\/p>\n

We have developed an innovative alternative to GTC that offers all of its features and more. Not only can you place single-leg triggers to enter or exit stock holdings until your price condition is met, but you can also simultaneously place target and stoploss (OCO or One Cancels Other) for your stock holdings.<\/p>\n

Creating GTTs<\/h3>\n

On Kite web, click on the context menu (marketwatch, holdings, positions) to see the Create GTT option.<\/p>\n

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Creating a GTT on Kite web<\/p><\/div>\n

On Kite mobile, click on any scrip and click on ‘Create GTT’ on the right.<\/p>\n

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Types of GTT<\/h3>\n

Buy GTT<\/h4>\n

Buy GTT can be used to creating triggers to buy stocks for delivery. When the trigger price is hit, a buy order with the entered limit price is placed on the exchange.<\/p>\n

Consider the example in the image below:<\/p>\n

Current price of Reliance = 1485.30
\nTrigger price = 1500
\nLimit price = 1505<\/p>\n

In this example, if the trigger price of 1500 is hit on the exchange, a limit buy order at 1505 is placed. Since the limit price is greater than the market price, the order behaves like a market order and executes at 1500. However, since this is a limit order, it won’t be filled at a price above 1505. The reason for having a limit price higher than the trigger price is to ensure that the order is executed when triggered and doesn’t stay pending and get cancelled.<\/p>\n

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Buy GTT \u2014 Single<\/p><\/div>\n

Sell GTT<\/h4>\n

Sell GTT is used to exit current stock holdings, either just a target order or both stoploss and target where triggering of one will cancel the other (OCO).<\/p>\n

Sell GTT \u2013 Single:<\/strong><\/p>\n

Consider the example in the image below:<\/p>\n

Current price of Infy = 785.70
\nTrigger price = 799
\nLimit price = 799<\/p>\n

In this example, if the trigger price of 799 is hit on the exchange, a limit sell order at 799 is placed. This order will be executed if you have the stock in your demat account and a buyer is available.<\/p>\n

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Sell GTT – Single<\/p><\/div>\n

Sell GTT \u2013 OCO (One Cancels Other):<\/strong><\/p>\n

Consider the example in the image below:<\/p>\n

Current price of Infy = 785
\nStoploss trigger price = 700
\nStoploss limit price = 700
\nTarget trigger price = 800
\nTarget limit price = 800<\/p>\n

In this example, if either trigger price of 700 or 800 is hit on the exchange, a limit sell order at the corresponding limit price is placed. This order will be executed if you have the stock in your demat account and a buyer is available. The other trigger is cancelled when one is hit.<\/p>\n

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Sell GTT – OCO<\/p><\/div>\n

Using percentages to set triggers<\/strong><\/p>\n

You can also easily set your GTT triggers at any desired percentage points away from the LTP. Consider the example in the image below:<\/p>\n

Current price of Infy = 793.65
\nStoploss trigger price = 674.6 (-15% from LTP)
\nTarget trigger price = 912.65 (15% from LTP)<\/p>\n

You can simply change the percentage value below the ‘Trigger price’ field (positive for target and negative for stoploss) and the trigger price will automatically be set to that level. You only have to enter the limit price.<\/p>\n

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Setting triggers 15% away from LTP<\/p><\/div>\n

GTT for Nifty and Banknifty F&O<\/h3>\n

Updated May 4, 2020<\/strong><\/p>\n

We have now extended the GTT feature from to include Nifty and Bank Nifty futures and options. You can also set the target and stoposs as a % of the price at which your order will get traded while placing the order itself. This feature is currently available on Kite web and will be launched on the mobile app soon.<\/p>\n

In the image below, while placing a buy Nifty May Futures market order, an SL and target of 1% are set. What this means is that whatever the price at which the market order gets executed, a sell GTT is placed at 1% above and below that price. If either one of these gets executed, the other gets cancelled.<\/p>\n

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Setting SL and Target while placing a Nifty futures market order<\/p><\/div>\n

Managing your GTTs<\/h4>\n

All GTTs placed you place can be managed under the GTT tab on the Orders page of Kite.<\/p>\n

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GTT Tracking<\/p><\/div>\n

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Margins<\/h3>\n

You don’t need to have any cash or margins available in your account to create a GTT. The system only checks for margins when the GTT is triggered and an order needs to be placed on the exchange. You will need to have margin available only then.<\/p>\n

Validity<\/h3>\n