Finding the right stock to buy is indeed a difficult task. But, what’s even more difficult is buying it at the right price.
Whenever we decide to buy a stock, we usually try to analyse its support levels. And why do we do so? That’s because we believe that the stock will see a considerable upside after hitting the support level. But, honestly, how many of us end up buying the share at that support level? Very few!
To place the order at support levels, you have to login to the trading terminal, track the stock, and then place a buy order every day until the stock hits the support level. But, spending hours daily staring at the mobile screen to track the markets is not possible for everyone. For instance, what if you go out on a long family trip? Will you spend your vacation time placing orders and tracking the markets? No. You would rather spend time enjoying the vacation. But what if the share dips to the support level on the same day and by the time you notice, it has already bounced back?!
I know the range of emotions you might feel in such a situation… frustration, anger, self-pity, and most importantly regret. But, you are not the only one. We all have been through this. And if this situation seems very familiar to you then we have finally found a way out. Now you could analyse the support levels of stock, place a Good Till Triggered (GTT) order and make money with every trend reversal.
What is Good Till Triggered (GTT) order?
The Good Till Triggered (GTT) feature is a newly added feature on Samco’s StockNote app. It is extremely useful for investors who do not trade actively or do not have time to track the markets daily. As the name suggests, the orders you place using the GTT feature stay as it is till it gets triggered. So, you don’t have to go through the hassles of placing orders every day.
Let’s understand how GTT orders can help you mint money by buying on every support level.
Let’s say back in January 2022, Axis bank was a part of Ajay’s bucket list. He always thought that when the stock would hit the strong support level of Rs. 640, he would buy it and make money with every pullback. But as time passed, he forgot about his prediction and months later he realised that he has missed a major money-making opportunity!
Conversely, his colleague Vijay was a smart trader and was aware of Samco’s GTT feature. Unlike Ajay, Vijay had placed a GTT order for Axis Bank in January for 50 shares. His order got executed on 8th March 2022 for Rs. 645 and he sold those shares at Rs. 805 on 20th April 2022 at a good profit of Rs. 160 per share. So, Vijay ended up earning Rs. 8,000 in just a month.
Even though Ajay was aware about the support level of Axis bank, he couldn’t make money out of it just like a normal trader as he was busy in his daily routine. Vijay was also busy attending the same meetings as Ajay, but he still managed to make money. All of this happened because of GTT.
And as we have always heard, nothing is more expensive than a missed opportunity! Not placing a GTT order did cost Ajay Rs. 8,000.
Now, I don’t want you to miss such great opportunities. So, you must check out Samco’s GTT feature, immediately.
How does a GTT order work?
The day you analyse the support level of a stock, simply place a GTT buy order. Whenever (in a lifetime) the stock hits your target price, the order will get executed and you will receive an email and an SMS.
Now, you don’t have to compromise on anything. You can go out on a long vacation or attend endless meetings and still make money in the stock markets. GTT orders have made our lives a lot simpler.
So the next time you check your trading terminal, there will be no room for regrets. Instead, you will be happy for grabbing the right opportunities in the markets.
How to place a GTT order?
To place a GTT order on StockNote, here are the steps you must follow:
- Set up buy or sell trigger prices for your desired stocks
- Assign the appropriate limit price and quantity for your orders
- Agree to the terms and conditions and create the GTT orders
Making money in the stock markets just got simpler. All you need to do is buy the stock at a strong support level using the GTT feature.
Watch a short video by Samco’s Chief Markets Editor, Mr. Apurva Sheth, as he shares a few case studies where the stocks showed trend reversal from the support zone and how GTT orders could’ve helped enter long positions.
If you need further assistance, get in touch with us over email at email@example.com or contact us on 022-2222-7777.