A GTT is a feature of the share market which allows you to trade on the specific or the amount you created to buy that particular stock.
For example- If you want to buy a share of rupee 200 but right now the price of that share is rupee205 then you can set a GTT order of rupee 200, which means in short that when the price of that share will come down to rupee 200 it will buy that share automatically.
With this feature of GTT currently talking in UPSTOX makes the trading way easier, also you should make sure that this feature of GTT is only available in the new and updated version of UPSTOX.
With the help of GTT, all you need to do is – define your buy or sell price with your decided profit target and the maximum loss or the stop loss you can handle and just sit back and relax. The rest of the work will be compiled by the UPSTOX trading app. As soon as each relevant price that you set gets triggered, UPSTOX will place that order and notify you.
Come on let me notify you why you should create a GTT order…
Why place a gtt order?
Saves your Time
Once you place a GTT order, you are not required to search the markets back and forth every second. Simply sit back and relax!
Easy to Handle and operate:
GTT doesn’t involve any complex formulas or has something rocket science.
You just need to decide whether you want to place a buy/sell order above, below or at the current market price and then just Add a Stop Loss and a Target and place your orders with just a single click.
Management of the trades is much better:
Basically, when you buy a stock you cannot place a sell order with it, but with the help of the GTT Order you can create the sell order with proper conditions when they are at the time of buying. So, when the proper conditions meet like STOP LOSS and TARGET ORDER(will be explained) the share will be sold out.
Now just see some of the basic terms:
Stop Loss: An order at a price below which you don’t want to make further losses
The next one is a Target: An order at a price at which you’d like to exit to make profits.
How to create a GTT order
On moving further let us now see how you can place or create an GTT order.
GTT orders are way too simple as compared to any other live share market. You just need a quick overview or a trust towards that particular company to which you need to buy the stocks.
Once stock is placed under GTT you need nothing to do or search for the live market beneath.
1.Moving with the first step:
Login to your UPSTOX account or open the page, the interface will come up showing you the particular watchlist things that you have created.
2.Secondly:
The next step is to decide to which company you need to make an GTT order or to check for the trades particularly. Just click on that company and you will be just redirected to the buying to the stock pages.
3.Next and very important the third step in GTT order:
From the above interface you can choose the option of CREATE GTT ORDER.
Then select the option of BUY as you are buying the stock in other terms i.e., buying stock in reference to GTT orders.
Select the product type as DELIVERY or INTRADAY:
DELIVERY- you can hold the stock for about365 days without any failure, whenever you think you can sell the stock once buoyed.
INTRADAY- within buying the stock with INTRADAY feature you will get a margin but you won’t be able to keep that stock for too long you would have to sell that stock within the market day that too the same market day.
Ok, assuming you have selected the product type from which you need to buy the stock, the next thing will be the
Quantity- select the amount of quantity for which you need to buy the stocks . It can be 1 to anything.
Next comes the place order feature with 3 different criteria
1. The first criteria is-IF PRICE IS BELOW—–this feature allows you to set the price with the price low as compared to the market price or in simple words you can say that if the price of a particular share is rupee 100 but you need to buy that share when the price moves down to rupee95 then you can select this option and then when your desired condition will be fulfilled the stock will the purchased.
2. The next criteria are IF PRICE IS ABOVE—–Again the basics are the same but the change is that during this time you need to create the stock price higher for example if a current price of stock is rupee100 and you need to buy it when the price of the stock become rupee105 then you can select this order and when the price of this stock becomes the 105 rupee the stock will be purchased.
3. Third criteria come as IMMEDIATELY—– under this criterion you will buy the stock with the price as that of the market currently.
So, while placing a GTT order make sure of this thing, Now comes the very basic things that you could have already known about the STOP LOSS and TARGET ORDER.
STOP LOSS-The price at which the investor can handle the loss from the stock price.
TARGET ORDER-The price set by the investor on which he\she will sell the stock. In order to make the maximum profit.
After setting all these conditions just need to go for a review and place a GTT order.
With the help of this feature that to be executable one can create a GTT order and can have a good part of trading within himself\herself.
Extra charges of placing a GTT order? Right now, there are no extra charges for creating a GTT order, only the charges that are applicable while trading for the stock or the brokerage charges that are only applicable while applying for the GTT orders.
Validity of GTT orders in upstox
GTT orders are not required to be entered everyday by any of the investors. That is the main motive of placing a GTT order but you need to check its validity.
While a GTT Intraday order is valid only for that particular day.
A GTT- F&O order is valid till expiry and an Equity Delivery order is valid for 365 days.
Use cases of this feature The GTT order feature helps you to save your time and energy.
Suppose that if you want to make an investment towards a stock and you also have a set price in your mind to which you need to buy the stock. Or suppose that you want to sell your stock at a particular point or a price or at a certain price point. In both these cases you can create a GTT order with your desired price points and then stop tracking the movement of prices.
Stock market prices are mostly non determined they can either go up or make a down. Whether you are a full-time trader who’s into trading day in and day out, or you trade or invest in stocks on a part-time basis, and have a full-time job or business on the side, thus using GTT is a good way to invest in your trades within the particular set price ranges and the target points.
The GTT order allows you to execute trades at your desired price point automatically so you can do other things with your time.
At last
Once you are all set to invest in the trades but the time is the only key major factor which is moving you aside from trading then these GTT orders are the best options to which you can trade.
The Good till Trigger feature of the UPSTOX mobile app and web platform, allows you to trade, buy shares and sell shares with delivery or INTRADAY and you can invest at your own pace and place. Pick up your price range for the buying of stock and selling of stock then just place GTT orders, and let our smooth and automated processes take care of the rest.
For example- If you want to buy a share of rupee 200 but right now the price of that share is rupee205 then you can set a GTT order of rupee 200, which means in short that when the price of that share will come down to rupee 200 it will buy that share automatically.
With this feature of GTT currently talking in UPSTOX makes the trading way easier, also you should make sure that this feature of GTT is only available in the new and updated version of UPSTOX.
With the help of GTT, all you need to do is – define your buy or sell price with your decided profit target and the maximum loss or the stop loss you can handle and just sit back and relax. The rest of the work will be compiled by the UPSTOX trading app. As soon as each relevant price that you set gets triggered, UPSTOX will place that order and notify you.
Come on let me notify you why you should create a GTT order…
Why place a gtt order?
Saves your Time
Once you place a GTT order, you are not required to search the markets back and forth every second. Simply sit back and relax!
Easy to Handle and operate:
GTT doesn’t involve any complex formulas or has something rocket science.
You just need to decide whether you want to place a buy/sell order above, below or at the current market price and then just Add a Stop Loss and a Target and place your orders with just a single click.
Management of the trades is much better:
Basically, when you buy a stock you cannot place a sell order with it, but with the help of the GTT Order you can create the sell order with proper conditions when they are at the time of buying. So, when the proper conditions meet like STOP LOSS and TARGET ORDER(will be explained) the share will be sold out.
Now just see some of the basic terms:
Stop Loss: An order at a price below which you don’t want to make further losses
The next one is a Target: An order at a price at which you’d like to exit to make profits.
How to create a GTT order
On moving further let us now see how you can place or create an GTT order.
GTT orders are way too simple as compared to any other live share market. You just need a quick overview or a trust towards that particular company to which you need to buy the stocks.
Once stock is placed under GTT you need nothing to do or search for the live market beneath.
1.Moving with the first step:
Login to your UPSTOX account or open the page, the interface will come up showing you the particular watchlist things that you have created.
2.Secondly:
The next step is to decide to which company you need to make an GTT order or to check for the trades particularly. Just click on that company and you will be just redirected to the buying to the stock pages.
3.Next and very important the third step in GTT order:
From the above interface you can choose the option of CREATE GTT ORDER.
Then select the option of BUY as you are buying the stock in other terms i.e., buying stock in reference to GTT orders.
Select the product type as DELIVERY or INTRADAY:
DELIVERY- you can hold the stock for about365 days without any failure, whenever you think you can sell the stock once buoyed.
INTRADAY- within buying the stock with INTRADAY feature you will get a margin but you won’t be able to keep that stock for too long you would have to sell that stock within the market day that too the same market day.
Ok, assuming you have selected the product type from which you need to buy the stock, the next thing will be the
Quantity- select the amount of quantity for which you need to buy the stocks . It can be 1 to anything.
Next comes the place order feature with 3 different criteria
1. The first criteria is-IF PRICE IS BELOW—–this feature allows you to set the price with the price low as compared to the market price or in simple words you can say that if the price of a particular share is rupee 100 but you need to buy that share when the price moves down to rupee95 then you can select this option and then when your desired condition will be fulfilled the stock will the purchased.
2. The next criteria are IF PRICE IS ABOVE—–Again the basics are the same but the change is that during this time you need to create the stock price higher for example if a current price of stock is rupee100 and you need to buy it when the price of the stock become rupee105 then you can select this order and when the price of this stock becomes the 105 rupee the stock will be purchased.
3. Third criteria come as IMMEDIATELY—– under this criterion you will buy the stock with the price as that of the market currently.
So, while placing a GTT order make sure of this thing, Now comes the very basic things that you could have already known about the STOP LOSS and TARGET ORDER.
STOP LOSS-The price at which the investor can handle the loss from the stock price.
TARGET ORDER-The price set by the investor on which he\she will sell the stock. In order to make the maximum profit.
After setting all these conditions just need to go for a review and place a GTT order.
With the help of this feature that to be executable one can create a GTT order and can have a good part of trading within himself\herself.
Extra charges of placing a GTT order? Right now, there are no extra charges for creating a GTT order, only the charges that are applicable while trading for the stock or the brokerage charges that are only applicable while applying for the GTT orders.
Validity of GTT orders in upstox
GTT orders are not required to be entered everyday by any of the investors. That is the main motive of placing a GTT order but you need to check its validity.
While a GTT Intraday order is valid only for that particular day.
A GTT- F&O order is valid till expiry and an Equity Delivery order is valid for 365 days.
Use cases of this feature The GTT order feature helps you to save your time and energy.
Suppose that if you want to make an investment towards a stock and you also have a set price in your mind to which you need to buy the stock. Or suppose that you want to sell your stock at a particular point or a price or at a certain price point. In both these cases you can create a GTT order with your desired price points and then stop tracking the movement of prices.
Stock market prices are mostly non determined they can either go up or make a down. Whether you are a full-time trader who’s into trading day in and day out, or you trade or invest in stocks on a part-time basis, and have a full-time job or business on the side, thus using GTT is a good way to invest in your trades within the particular set price ranges and the target points.
The GTT order allows you to execute trades at your desired price point automatically so you can do other things with your time.
At last
Once you are all set to invest in the trades but the time is the only key major factor which is moving you aside from trading then these GTT orders are the best options to which you can trade.
The Good till Trigger feature of the UPSTOX mobile app and web platform, allows you to trade, buy shares and sell shares with delivery or INTRADAY and you can invest at your own pace and place. Pick up your price range for the buying of stock and selling of stock then just place GTT orders, and let our smooth and automated processes take care of the rest.