GTT with percentage is getting confusing for option writings when placing exit orders from positions tab.
I just tried it twice and order got executed instantly.
Absolute values would be much better.
Not sure what is the confusion in this but we will check on possibility of adding absolute in coming days.
@siva
In this picture under positions tab I have already sold 10500 CE MAY @ 15.70
Now I wish set target @ 1 and stoploss @ 31.4 (double of the sold premium)
So I clicked exit and it opened the Buy Order Tab.
Now what do I need to fill as per my above Target & Stoploss?
I have the same doubt.
Ah no, not by clicking on exit positions if you have already taken a position. Check this
I have taken a short Nifty Fut.
I go to positions and click on Create GTT and mention the stop and target.
How can you place trigger price greater than limit price in ‘Target Values’, when you have already changed the rules of GTT for guaranteed execution ?
@nithin Thanks but how are you able to put trigger price higher that your price? It is not allowing me to do so in the screenshot above.
@nithin @siva
But now, even i am confused. If i have an Option Position in Buy and want to create a SELL GTT.
Still it says Trigger should be greater than Price. How is that ??
It is possible that market touches 120 price and reverses back and since you have given limit price as 122 it may not fill, thats why it is not allowing. Now if you give trigger as 120 and limit price as 119 (anything less than 120) then it will act as market order and it will be filled guaranteed.
Its not at all correct logically.
Yes you are right but Zerodha is saying they were getting a lot of complaints from the costomers that their GTT orders were not getting executed, so Zerodha changed this.
When you are placing a sell GTT
Your selling price should be lesser than the trigger price.
When you are placing a buy GTT
Your buying price should be greater than the trigger price.
We will change the rejection reason so easier to understand. The idea with restricting the price to be lesser than trigger for sell and more than trigger for buy is to ensure these get executed. If not the changes of the price becoming a pending order is much higher.
@nithin You didnt say what and where i m wrong. Am i ?? Then how ? Pls let me understand this. You earlier said that when trigger price is reached then your servers place orders on exhange after that only. Right??? Thats why its named GTT. Then how a sell order will have higher sell triggering first and then ur servers will place sell order at lower price as in my case where i already have a BUY position and need to exit through GTT?? Its confusing as well as illogical.
Give trigger and price as 120, so once GTT it triggered it will place a sell limit order at 120.
In this case the order will be traded only at 120, after triggering at 120 if it goes to 115 or below 120 there is a chance order may not be traded, so we are suggesting to give price as lower than 120 in this case. You are allowed to give 120 also but for guaranteed execution and to act this as market order place price lower than trigger for sell and viceversa for buy. To understand it better you can read this and related topics.
This GTT that you are setting, I guess you agree will get triggered at 120?
If yes, when it is triggered, it will place a selling limit order at 122?
The problem though is that the current market price is 120, which means your limit at 122 is going to remain pending and unexecuted unless the market price reaches 122.
By asking you to place at 120 or lesser, when your selling order reaches the market, your order is guaranteed to be executed.
But I understand that it might be confusing for the user, especially when going long and short. We will try to do something to simplify.
Exactly. Thanx for taking a notice atleast. And also it means that GTT is only a Market Order placement mechanism on Trigger
Are you saying that if we put price lower than trigger for sell order it will act like market order and get executed with 100% guaranteed at market price?
Not with 100% guarantee but has more probability of execution than keeping trigger and limit as same. The wider the difference the more chance of execution. Also options move very fast so better to give difference but not mandatory.
sir after GTT on f&o…ANY update on basket or spread orders in index option selling/buying ?