More often than not, traders do not have the time to stare at charts all day and place the same orders everyday. This is where a game-changing feature like GTT (Good Till Triggered) order helps. A GTT (Good Till Triggered) order is an advanced stock market order that allows investors and traders to set predefined price conditions for buying or selling stocks and derivatives. Unlike regular orders that expire if not executed within a day, a GTT order remains active until the specified price is reached, ensuring market opportunities are never missed. A GTT order is particularly useful for both long-term investors and active traders who wish to automate their trades without constantly monitoring the market. On INDmoney, no charges apply to place a GTT order and traders can use a Good Till Triggered Order as a all in a single-click triple safety check for all their trades i.e
- Controlling the price at which a stock/derivative is purchased
- Booking potential profits
- Preventing unforeseen losses
How Does a GTT Order Work?
The process of placing a GTT order can be understood with examples for the following 3 order types:
1. GTT Buy Order - A GTT buy order is placed when you want to set a lower price to automatically buy stocks/derivates when they drop. For instance, if stock A is priced at ₹2000 but you think ₹1800 is a good entry point to buy it, then you can set a GTT Buy order that will automatically get executed once the price for Stock A reaches ₹1800.
2. GTT Target Order - The GTT sell order is set for a higher price to sell stocks/derivates automatically when they rise. So suppose, if you have Stock B priced at ₹1000 and you think the price can reach ₹1500, then you will set a GTT Target order which will automatically sell your stock, once its price reaches ₹1500.
3. GTT Stop-Loss Order - This order type is typically used by traders to protect themselves against sudden market crashes by setting a minimum exit price. For instance, if you have Stock C at ₹1500, you can set a GTT Stop loss order ₹1250, which will automatically sell your order at the price to prevent bigger losses and stop your loss automatically beyond the limit set by you.
Example of How a GTT Order Works for Future and Options(F&O) Contracts
Imagine you are interested in buying Option A. Instead of buying this option at the current market price of ₹1600, you believe it will be a good buy and are willing to enter only if the price drops to ₹1500.
Here, your trading plan could essentially be to set conditions for instant profit-booking and stopping any unpredictable losses, right at the time of entering the trade. This is where a GTT order comes in. You’d want to automate locking in your gains if the price rises up to ₹1700 and setting a stop-loss at ₹1400, in case the price ends up falling.
With the GTT order, your trade will only execute when your set price is reached—automatically! This way, your trades can manage themselves, while you focus on the next market opportunity. With just one order, your trade is fully automated, eliminating the need for constant tracking.
Advantages of Using a GTT Order
By setting GTT orders, one can not just trade smarter but also minimize risk and focus on seizing multiple market opportunities automatically!
No Constant Market Monitoring Required: A GTT order remains active until your price condition is triggered, so you don’t need to watch the market or monitor charts all day.
No Need to Manually Set Orders Everyday: With a GTT order, you have full control over how long your order stays active or in case the instrument expires. This protects a trader from setting the same order again and again.
Unlock Disciplined Trading: A GTT order ensures you stick to your planned entry, exit, and risk management strategy rather than making impulsive and emotional decisions.
Available for both Stocks & F&O: Whether you are buying stocks for long-term investing or trading in derivatives (Futures & Options), the GTT feature on INDmoney helps in executing your trades efficiently.
Easy Single-Click Risk Management: Setting an automated stop-loss along with a profit target helps in managing risks effectively and maximizing potential returns.
Smart GTT on INDmoney: How to Place a GTT Order on INDmoney (Step-by-Step Guide)
At INDmoney, we believe you as traders need a game-changing feature that lets you set stop loss and target right at entry, in just one click.
Whether you're buying or selling options - simply add your stop loss and target, while placing your trade instantly. Plus, you can also choose the validity of your order. Your trade will only execute when your set price is reached—automatically! In case the price is not reached, the order will automatically get cancelled when the order expires once its validity is over, or the instrument expires. Here’s how you can use the Smart GTT feature for free on the INDmoney app:
1. Log in to your INDmoney App
2. Search for the option you are looking to buy or sell.
3. In one simple step - set your limit price, target price and stop loss.
4. You can also customize the expiry for the order set by you i.e same day or the expiry date of the instrument.
5. Click on the green “Buy order” button on the bottom of the screen to confirm your order.
The smart GTT feature on INDmoney ensures that your trading is controlled, disciplined and risk-managed.
Important Things to note about the Smart GTT feature on INDmoney
- Stop loss and target GTT orders are available across all types of trading and investing, Equity Delivery, Equity Intraday, MTF, FnO Delivery, FnO Intraday.
- Stop Loss and Target GTT orders can be placed at the same time as placing your main order all in a single click, avoiding the hassle of first opening your position and then placing your stop loss and target on it.
- For Equity delivery, stop loss orders on your holdings may not work if you do not have DDPI activated on your account. This is because any Sell transaction on your demat holdings require to be authorized by a CDSL TPIN + OTP if you do not have DDPI activated. Learn more about DDPI.
- All pending Stop loss or target GTT orders will be available in the orders section on the app under the GTT selection.
- When placing a stop loss and target order together, it automatically gets tagged as an OCO order by the system and does not require any additional selection/management from the user.
- Stop loss and target GTT orders can be placed anytime, but are executed only during trading hours.
- If during trading hours, a Stop loss or target GTT order gets triggered since the trigger price is hit by the stock or option, and the order does not get fulfilled since there are not sufficient buyers or sellers in the market, then the order will expire at market close.
- You can at most have 1000 GTT orders active at one time.
Frequently Asked Questions (FAQs) on GTT Orders
1. How long does a GTT order stay active?
You choose how long your order stays active. A GTT order remains valid until the stock hits the trigger price or for a maximum of 1 year.
2. Can I modify or cancel a GTT order?
Yes, you can edit or cancel the order anytime before it gets executed. Please note that once the order is executed i.e. a position is closed, the GTT will not be available to modify.
3. Is there any extra charge for GTT orders?
No, placing a Smart GTT order on INDmoney is completely free and no extra fees for the same is charged.
4. What are the types of GTT Orders?
- Single Order - In case of a Single GTT order, one is required to specify just one entry price along with the order quantity and price. The order remains open until the specified price is triggered or the order is canceled manually. This order type is mostly useful for investors who have a specific price point in mind to buy or sell an asset. For instance, you want to buy 100 shares of Company X, but only if the price falls to ₹500. So now, you can set a Single GTT order with a trigger price of ₹500. The order will remain active until the stock price reaches ₹500. Once the price triggers, the order is executed automatically.
- One Cancels Other (OCO) Order - The OCO GTT order allows one to place two orders simultaneously, each with a different entry price. The key differentiator for an OCO order is that if one of the orders is executed, then the other is automatically canceled. This type of order is ideal for traders who want to manage their risk or take advantage of multiple price levels. Let’s take an example of a trader who’s interested in trading the shares of Company A. The stock could either rise or fall, and one wants to take action based on whichever direction it moves. The trader could set a buy order if the stock reaches ₹500. Simultaneously, he/she can also set a sell order if the stock rises to ₹550. So, if the stock price reaches ₹500, the buy order is triggered, and the sell order at ₹550 is automatically canceled. On the other hand, if the stock price reaches ₹550 first, the sell order is triggered, and the buy order at ₹500 gets canceled. This ensures that the trader is never holding both orders at the same time and offers more flexibility and protection in volatile markets.
5. What happens if the stock price never reaches my trigger?
If your smart GTT order never reaches the trigger, your order remains pending until executed or expires after 1 year.
6. Can I use GTT for all stocks?
GTT on INDmoney is available for all stocks across all types of trading and investing, Equity Delivery, Equity Intraday, MTF, FnO Delivery, FnO Intraday.
Disclaimer
This is merely a feature communication is meant for sole use by the recipient and not meant for circulation. This blog is for general/educational information purposes and is no way to be considered as advice, or recommendation for investment or otherwise.
Investment in securities market are subject to market risk, read all the documents carefully before investing. The securities quoted are exemplary and not to be considered as any kind of advice or recommendation. The past performance of the stocks are not necessarily indicative of future performance. INDmoney Private Limited 616, Level 6, Suncity Success Tower, Sector 65, Gurugram, 122005, SEBI Stock Broking Registration No: INZ000305337, Trading and Clearing Member of NSE (90267, M70042) and BSE, BSE StarMF (6779), SEBI Depository Participant Reg. No. IN-DP-690-2022, Depository Participant ID: CDSL 12095500.