One of the most requested features to date has been for good till cancelled (GTC) orders – orders that are valid until cancelled. Offering this order type 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 replace all the pending orders which were cancelled by exchange once again on the next trading day. This solution isn’t scalable as every morning at market open there could be a need to place lakhs of orders on a limited messages per line connectivity every brokerage firm gets (400 messages/second/line) to the exchange over leased lines. The replacing of orders every day also has a very high operational risk.
We have found an innovative way to be able to offer GTC to all our clients at scale through what we are calling as Good Till Triggered (GTT) orders. You can not only place single-leg triggers to enter or exit stock holdings until your price condition is met, but also an ability to simultaneously place target and stoploss (OCO) for all your stock holdings.
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Thank you so much dude. Been waiting for this for years. Made my Day !!!
Same here thanks much hope mobile app roll out is soon can’t see GTT orders in app yet.
Thanks again this would be really helpful to swing traders
Currently during buy I can’t set Stoploss. It would be good if I can combine entry stop loss and Target all in one GTT.
Hope you will consider this in future. Currently for buy only GTT you need to still set Stoploss manually after trigger.
GTT is for investors.Once your buy alert is triggered you will get an email and you can act then by placing target and stoploss.
Is the GTT system, an exchange-approved algo (similar to BO and CO orders)?
It isn’t an algo, it is like how a stoploss order today works. A trigger when met, the order is placed on the exchange. Just that the validity of the trigger is for 1 year.
Please make a free version of this GTT, you may create a simpler GTC kind of system without any premium features.
Every order will add load to system and comes with a cost. This is simple version only apart from 1 or 2 extra options.
How can I delete or modify once it got triggered?
in case of gap up and gap down opening , how will my GTT work?
e.g. my trigger point for sell is rs 300 and market opens at 250rs . Will you place order immediately ?
Once it is triggered an order gets placed. If the order is not already executed, you can modify the order. Otherwise, you can cancel the order and replace the trigger.
Yes, if market opens at Rs 250 and trigger is at 300, it will get triggered as soon as market opens and a sell order with your limit price is placed.
My question was related to GTT. How can I modify or delete an GTT as there is no option for that.
This order has already been triggered so no such option check ones which are open you will see delete and modify options.
That’s exactly my question was “How can I delete or modify once it got triggered?” As now I want to change the trigger price.
You can’t modify GTT once it is triggered. You can modify the order if it is pending after trigger. Order will be in regular orderbook. Also order will stay for that one day only in system. If you want you can create new GTT as it triggers only once.
@siva One more thing use my liquid fund as margin for 1 or 2 days to trigger my orders, so that i will park my fund in advance.
Can you go through that post once again. To place GTT no money is required, only once it triggers you need to have enough balance in your account for the order to be completed. Once trigger it is as good as client placing a manual order at that time.