I've never used GTT in Zerodha but would like to know what's the priority of GTT order compared to day orders ?
Like, I've shares of RTNPOWER and it's hitting lower circuit everyday and it gets really tough to place a SELL order at 9:15 AM as there's already a lot of orders in queue. If I place a GTT order, what will be the priority of that GTT order as compared to the day orders placed by others?
Today at NSE, it closed at 16.24, if I place GTT of 16.23 today, what are the odds it will be sold tomorrow for sure if it opens at 5% down which will be approximately 15.43 ??
Divide your quantities into 3 parts or two parts.
Put AMO of 15.43 / 15.44 / 15.45 in three seperate quantities.
Lets say you have 30 qty then Make three AMO of 10/10/10 quantities. Chance are high for your one of the order would get execute, if you are lucky there might be all order would execute.
GTT would not work in Circuits. They are for longer period(Max 1 year) and works during market hours.
Genral advise : Put only amount in circuit stocks which you can afford to lose.
even if you place for 16.23, tomorrow's price would be 5% lower atleast if in circuit, so order won't be executed right?
GTT is good till traded.
Its not trigger order, u can place order at any price within circuit limit.
It doesn't stored in broker's system but every days it is getting send to exchange during market hour till your order doesn't get executed or your order price is out of circuit limit
I use GTT buy or sell (only CNC) for Niftybee and bankbee in premarket before 8.57am . but the order will go in to the sytem only at 9.15am. (to catch wacko top and wacko bottoms ) and cancel GTT immediately at 9.18am if not hit at the open . Then play with MIS instead of CNC buy.
also when a stock or commodity is near or locked near Limit down , i used to gues another drop and bounce and place a GTT order as the system wont take a present order. this startegy useful in natgas ,crude oil etc.I always place a LImit order with a trigger .
GTT is a trigger that stays in broker system, I when trigger condition is met it sends order to exchange hence from that moment same priority as any other day order