Samco securities limited

Good Till Triggered Orders
Place it and forget it, we will do the rest!

Now place buy/sell orders with a lifetime validity through the GTT feature (Good-Till-Triggered) available on StockNote. Enter and exit your F&O and delivery positions at the pre-set prices with the help of the GTT feature.

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GTT - Good-Till-Triggered Orders
What is GTT Order

What is GTT
Order?

GTT or Good-Till-Triggered is a type of order that allows you to place buy/ sell orders with lifetime validity. It lets you place an order which will be sent to the exchange only when the price condition is met or breached.

Experience GTT Order Now

How GTT Order
works?

Good Till Triggered order has two legs, Trigger Price and Limit price. Trigger Price is the price at which the order will be triggered and sent to the exchanges and Limit Price is the price at which the order will be executed. You can enter the Trigger Price and Limit Price along with buy/sell quantity on any stock that you wish to purchase/ sell.

Benefits of
GTT Order

Market Monitoring Not Required

Market Monitoring Not Required

No need to track the markets constantly once you’ve placed the order.

Lifetime Order Validity

Lifetime Order Validity

The order is not time bound. It will remain valid for life, until it gets triggered.

Zero Subscription Fees

Zero Subscription Fees

You can use this feature for free. There’s no fee/charges for placing this order.

Modify/Cancel Order Anytime

Modify/Cancel Order Anytime

Easily modify/ cancel entry and exit conditions of orders anytime and as many times as you want.

Applicable for F&O and Delivery

Applicable for F&O and Delivery

You can place this order to enter or exit F&O as well as delivery positions.

GTT Order
use cases

  • Buy Stocks at Support
  • Buy Stocks on Breakout from Resistance
  • Exit once Target is achieved
  • Exit Once Stoploss is Hit

Stocks have a tendency to bounce back from same levels repeatedly. Such levels are called support zones. GTT orders can help you buy stocks near support zone. As you can see in the chart below, Kotak Bank has been trading near support levels of 1,700 over the last few months. A GTT order can help get entries near such support levels.

GTT Order use cases

There is limited selling pressure once stocks breakout above their previous highs. Momentum in these stocks can push them even higher in no time. GTT orders can help you buy such stocks on breakout. As depicted in the chart below, Hindalco was trading in a channel for more than a decade. A breakout from this channel triggered an upmove of almost 100% in few months. GTT orders can help you enter on time but save your efforts of daily monitoring.

Buy Stocks on Breakout from resistance

Several traders miss exits from stocks because they aren’t prepared for it. GTT orders provide you a tool to exit from your stocks once target is achieved. In the below chart, you can see how HDFC Ltd. spiked up sharply after announcing a merger with HDFC Bank on April 4. A GTT order could have helped you exit on such spikes.

Exit Once Target is achieved

Exiting once stoploss is hit is the toughest thing to do in trading. It hurts your ego more than it hurts your capital. However, a GTT order makes for an easy exit so you can survive to trade another day. The below chart shows how Infosys slipped below the support level of 1,660 after delivering week guidance. A trader could have avoided further losses if he had placed a GTT order that triggered on break of this support.

Exit once Stoploss is hit

Learn about
GTT Order use cases

FAQ’s

Q
What is a GTT order? And what are the benefits of using GTT orders?
-
A

GTT or Good-Till-Triggered is a type of order that allows you to place buy/ sell orders with lifetime validity. In this order, you need to give a Trigger Price (which is the price at which the order will be triggered and sent to the exchanges), Limit Price (which is the price at which the order will be executed) and quantity that you wish to purchase/ sell.

If you wish to set up a buy/ sell position in any stock or F&O contract, you can choose from the multiple product types - NRML (wherein you can create F&O and overnight equity delivery positions), CNC (wherein you can set up for the delivery of shares by paying 100% margins), BTPT (wherein you can set up for delivery of shares by paying a fraction of the margin at the time of purchase and the rest in 2 days).

There are various benefits of placing GTT order:

  • No need to track the markets constantly once you’ve placed the order.
  • Simply decide at what price you want to place an order and add long-term stoploss and target.
  • The order is not time-bound. It will remain valid for life, until it gets triggered.
  • You can use this feature for free. There are no additional fees/charges for using this order, only the brokerage cost will be applicable.
  • Easily modify/ cancel entry and exit conditions of orders anytime and as many times as you want.
  • You can place GTT order to enter or exit F&O as well as overnight equity delivery positions.
Q
What is the validity of GTT orders?
+
A
GTT Intraday order is valid only for that day. A GTT F&O order is valid till expiry and an Equity Delivery order is valid for life, until it gets triggered.
Q
What are the charges for GTT orders?
+
A
GTT orders can be placed free of cost. No fee will be charged for the use of GTT orders.
Q
What is trigger price and limit price in GTT orders?
+
A

Trigger price is the price at which you want your buy/sell order to get activated. Once the trigger price is met or breached, the order will be placed on the exchange.

Limit price is the price selected by you, at which you want the limit order to be placed and thereby enter the trade.

Q
How do you place a Buy GTT order?
+
A
  • Log in to your StockNote app and select the stock that you want to set up a GTT order on.
  • On the pop-up, select ‘Create GTT’ button on top which will lead you to GTT order page.
  • On the GTT order page, select ‘Buy’ on the top of the screen.
  • Select the product type i.e. NRML for F&O, CNC for delivery by paying 100% margin and BTPT for delivery by paying a fraction of the margin while placing the order and paying the rest in 2 days.
  • Enter the Trigger Price i.e. the price at which you want your order to be triggered and sent to the exchange.
  • Enter Limit Price i.e. the price at which you want to enter the trade and want your order to be executed.
  • Enter the quantity of stocks that you wish to place the order for.
  • Select the check box to agree to the terms and conditions and tap on ‘Create GTT’ button at the bottom of the screen. You GTT order will be created successfully.
  • You can also modify or cancel your GTT order anytime under the ‘Orders’ tab.
Q
How do you place a Sell GTT order?
+
A
  • Log in to your StockNote app and select the stock that you want to set up a GTT order on.
  • On the pop-up, select ‘Create GTT’ button on top which will lead you to GTT order page.
  • On the GTT order page, select ‘Sell’ on the top of the screen.
  • Select the product type i.e. NRML for F&O, CNC for delivery by paying 100% margin and BTPT for delivery by paying a fraction of the margin while placing the order and paying the rest in 2 days.
  • Enter the Trigger Price i.e. the price at which you want your order to be triggered and sent to the exchange.
  • Enter Limit Price i.e. the price at which you want to enter the trade and want your order to be executed.
  • Enter the quantity of stocks that you wish to place the order for.
  • Select the check box to agree to the terms and conditions and tap on ‘Create GTT’ button at the bottom of the screen. You GTT order will be created successfully.
  • You can also modify or cancel your GTT order anytime under the ‘Orders’ tab.
Q
Can you place target orders and stoploss orders with the help of the GTT feature on StockNote?
+
A
No, you cannot place target orders and stoploss orders using GTT feature on StockNote. You can only place Limit orders.
Q
What types of orders can you place using the GTT feature?
+
A
You can only place Limit orders using the GTT feature on StockNote.
Q
In what segments can you use the GTT triggers to place orders?
+
A
GTT orders can be placed on F&O as well as delivery segments.
Q
What is the margin requirement for placing GTT orders?
+
A
There’s no margin requirement at the time of placing the GTT order. However, in order to get your order executed successfully, you must add/maintain the required margin anytime before the GTT order gets triggered.
Q
How many GTT orders can you place on a single stock?
+
A
There’s no limit to the number of GTT orders that can be placed on a stock.
Q
When can you place a GTT order during the day?
+
A
You can place GTT orders from your StockNote app anytime, anyday.
Q
Do you need CDSL TPIN authorization before placing GTT orders?
+
A
No, you do not need CDSL TPIN authorization before placing GTT orders.
Q
Can GTT orders be modified or canceled through the StockNote platforms?
+
A

Yes. All GTT orders can be modified or cancelled anytime using your StockNote app.

You can check all your GTT orders under ‘Order’ section on StockNote.

T&Cs

These Terms of Use govern the usage of services of the GTT Feature. By agreeing to use this GTT Feature terms, you agree to have read and understood these clauses, conditions, the modalities of how the GTT Feature clearly works, and Samco Securities’ policies, procedures and risk disclosure documents.

Definitions

1.1 “Good Till Trigger Feature” or “GTT Feature” shall be defined as per Clause 2.

1.2 “Last Traded Price” or “LTP” is the last traded price at which a stock/scrip was traded on the Exchange.

1.3 “Limit Order” or limit order shall be defined as per the NSE “Order Conditions” which can be found here. As per NSE, a Limit Order shall mean “an order that allows the price to be specified while entering the order into the system.”

1.4 “RMS” or “Risk Management System” is the system in place at Samco Securities which monitors all positions of Samco Securities clients on a real time basis and sees to it that clients maintain margins with respect to all positions/positional trades & that Samco Securities maintains margins at a broker/trading member level with the clearing houses. The RMS also constantly vets each order, on a pre-trade basis, placed by a client towards the exchanges to see whether the order is as per Samco Securities’ risk management policies and procedures, and whether the client has placed such order with sufficient cash balances, holdings and as per the rules set by Samco Securities and the Exchanges. The RMS continuously enforces Samco Securities’ terms, policies & procedures, by enforcing limits of margins/squaring off positions with respect to each client, as per the risk management policies followed by Samco Securities. You, as a client, are required to always be updated with Samco Securities’ risk management policies, terms, and procedures.

1.5 “Trigger Condition” shall mean the criteria and conditions entered by You, which if met, the corresponding limit order entered by you will be placed on the exchange. The below set of conditions, not being limited to, are required to be selected by You:

A Trigger Price (defined as per Clause 1.6)

A Limit Price: the price selected by you, which places a limit order at the price selected by you after the Trigger Price is met or breached.

Type of order: You will be able to select only limit order as a type of order for your using the GTT Feature.

1.6 “Trigger Price” shall mean the price entered by you to trigger a limit order and place it on the exchange while using the GTT feature. This price selected by You may either be:

  • The price used to trigger a buy order in case it is being placed for stock/scrips that are not in Your current existing holdings;
  • The price used to trigger a selling/target order in case it is being placed at a higher price than the current market price, for stock/scrips that are already existing in your current holdings;
  • The price used to trigger a selling/stop-loss order in case it is being placed at a lower price than the current market price, for stock/scrips that already exist in your current holdings.
  • All prices entered by You for Your Trigger Price shall be tracked against the Last Traded Price (LTP) of the stock/scrip.

1.7 “You” or “Your” or “Yourself” shall mean you, the client, having a trading and demat account i.e. a Client ID, with Samco Securities and using the GTT Feature placement services from your trading account terminal through either StockNote Web or the StockNote Mobile Application. Read more