GTT (Good till Triggered) is a type of order that lets you Buy or Sell stocks at a Limit price. A GTT order is similar to a Limit order. The main difference is the validity of the order. A Limit order is typically valid for 1 day whereas a GTT order is valid for 1 year. GTT order is provided by many Full service & Discount brokers.
What is GTT?
GTT denotes “Good till Triggered” which is a type of Buying option. GTT is a future included by some brokers under which you can buy and sell any security at your desired price. GTT is similar to a Limit order but which a longer validity. A limit order can be placed for either buying or selling a security. This is valid for 1 trading day or up to 3:30 pm. On the other hand, a GTT order doesn’t get cancelled after 1 trading day, instead, it remains active until the order is executed.
The maximum limit of a GTT order is 1 year, unlike other orders which are valid only for 1 day. GTT orders are a good option for buying or selling stocks at a specific price. For example, the current price of SBI is Rs 400 but I want to purchase it for Rs 380. A limit order at Rs 380 would not be sufficient as it will get cancelled at the end of each trading day. I will have to place a limit order every day to get the security at my desired price. To solve this problem GTT comes to the rescue.
Is GTT available in Upstox?
No, GTT as an Order type is not available in Upstox, but it offers a similar feature to a GTT. Upstox has a feature to set an alert for Buying or Selling a stock instead of GTT. Once the price reaches the target price, Upstox will send you a notification regarding the alert. By this, you can manually Place a buy or sell order at that price. This is not a GTT order buy it is somewhat similar to it. The validity of the alert is not limited to 1 trading day.
Unlike Zerodha who provides the GTT order type in the terminal which is automatically executed. Upstox has an alert feature that notifies you of the arrival of your desired price so that you can manually place your order.