Hey there, fearless traders of all skill levels! We’ve got some exciting news that’s about to change the way you trade forever. Say hello to the new GTT OCO feature, your new best friend for effortless trading!
Are you tired of constantly monitoring your positions, anxiously waiting for the perfect moment to hit that sell button? Well, fret no more! With GTT OCO, you can set your target price and stop loss for your holdings, kick back, and watch the magic of your trade unfold.
Here’s how it works?
- Let’s say you are holding a stock in your portfolio and you have kept a target and stoploss in mind for exiting this stock.
- You can place a GTT OCO order and Enter your target trigger and stoploss trigger along with respective order prices.
- Once you’ve entered your target and stoploss prices, our system will start monitoring the market.
- If the price of your stock reaches your target price, our system will automatically place a sell order with target price for you. In this scenario, your stoploss trigger will get canceled automatically.
- If the price of your stock reaches your stoploss price, our system will automatically place a buy order with stoploss price for you. In this scenario, your target trigger will get canceled automatically.
How will GTT OCO order help you?
- Discipline to your trading
With this feature you can define your target price and stop loss as soon as you enter a trade. This way you can stick to your trading plan while maintaining discipline and consistency in your trading.
- Avoid emotional decisions
When you enter the target and stoploss for GTT OCO, Your decisions are made when you’re calm and objective, not during the heat of the moment.
Since your decisions are already locked in, you will not second guess your decisions during market volatility. These pre-set plans will help you reduce the influence of emotions on your trading decisions.
- Stress free trading
The GTT OCO order will bring you stress free trading. You can place GTT OCO, have trust in your strategy and save yourself from the anxiety arising from price fluctuations.
Things to keep in mind
- Corporate action
If there is a corporate action (like split issue, bonus issue, right issue, merger, demerger) in the stock you are holding then all the GTT OCO orders (including FnO GTT orders) related to that stock will get automatically canceled on the ex-date before the market opens.
If DDPI is not enabled for your demat account or you have not given power of attorney then your GTT OCO order will get rejected after getting triggered.