GTT Order Execution

Feature Requests
1

1001472307
10014723071071×678 26.5 KB

Why do they say that gtt orders need to reach the price twice? If the price is reached once but is not executed, the GTT order is not complete. It is a shame that a leading broker like Upstox has not found a solution for this. Many other brokers have solutions to this problem.

2

Hi @Najeeb_V,

Welcome to the Upstox Community!

Thank you for bringing this up. Allow me to explain how GTT orders work on Upstox and why the price needs to be reached twice in some cases. When a GTT order is triggered, the system sends a limit order to the Exchange, as per regulatory requirements. This means we cannot send market orders directly. For the limit order to be executed, the stock price must match your limit price again after the order is placed.

To improve execution rates specifically for the stop-loss leg of GTT orders, we’ve the Market Price Protection (MPP) feature. With MPP, you can set a price range (up to 10%) beyond your trigger price. This helps ensure the stop-loss order has a higher chance of execution, even if the price fluctuates slightly.

Hope this helps.

3

Thanks for the reply. I give more importance to the target than the SL. I think everyone takes trades focusing on the target. In the current situation, is there any way to get an order executed if the price hits once in a GTT order? If not, I will consider changing broker.

I heard that an app called SHOONYA has this feature. How does it work?

4

Hi @Najeeb_V,

This will not be possible using a GTT order, as it only triggers an order to be sent to the exchange when the specified condition is met. In this case, you can use a normal limit order, which is sent directly to the exchange. However, please note that a limit order is valid only for a single trading day and will be automatically canceled at the end of the day if not executed. You would need to place a new order each morning.

5

@Najeeb_V - A few things. First, focusing only on the target isn’t a great holistic trading best practice so I would argue that everyone isn’t doing that. Second, I researched what you said about the competitor and found a few things.

  • Coming from a Google Search, the FAQ pages on their main domain associated with GTT are blank.
  • Coming from a Google Search, the FAQ pages associated with GTT that aren’t blank are exposed QA environment pages.
  • Navigating from inside their site to find functional FAQ pages, this is how they describe their GTT order process: “When the trigger price is reached, the order is placed according to the limit price you’ve set. If the order is not filled on the day it’s triggered, you will need to place a new GTT order.”

This is two ‘hits’ of the price - once to trigger the order to send to the exchange and once to fill the sent limit order.

6

HI
in gtt order is there any possibilities of doing automation…