What are GTD, GTT, and VTC orders in the stock market? When it comes to stock market investment you should buy the stock when market declines. However, it is extremely difficult to track stock market and place order at preferred price. In order to achieve this stock brokers are providing facility of creating special orders. These special orders are GTT – Good till trigger, GTD – Good till Date, GTC – Good till cancel and VTC – Valid till cancellation order. The facility of such orders are created by means of using advanced technologies. Zerodha, ICICI direct and HDFC securities provide facility of such orders. Let’s try to deep dive and understand how to create such order and invest in the stock market.
What are GTT, GTD, GTC and VTC order in Stock Market?
GTD Order
GTD stands for Good till date order. GTD orders are valid order till specified date. This means this order remains active till mentioned date in the order. This order is also known as GTC order. (Good Till Cancel) If order is not executed up to specific date as desired price is not achieved the order stands cancelled. This means GTD orders are long term orders. GTD order can be used for long term investor who want to buy or sell stock at specific price.
GTT Order
GTT stands for Good Till Trigger order. GTT order remains active till trigger condition is achieved. GTT order is long term order and remain valid till 1 year. This order can be buy order or sell order. This order will be executed when trigger price is achieved. The order remains pending till that time.
VTC Order
VTC stands for valid till cancellation. VTC order validity is less compared to GTT order. VTC order remains active till 45 days. This means order gets executed when stock reach desired set price or get cancelled automatically after 45 days.
How to create GTD order at HDFC Securities?
GTD order facility is provided by HDFC securities. This order is known as GTDt order by HDFC securities. This facility is provided to specific clients by HDFC securities.
GTDt order can be placed via various channels such as internet, mPowered trading platform and Call Trade facility. This order can be placed in equity.
In order to place this order, select GTDt option from drop down menu in the order panel. You need to provide desired price with buy and sell action and stock code.
This facility is available for equity and cash products. GTDt is available in all securities in BSE & NSE, except NCD, bonds and illiquid scrips.
How to create GTT order at Zerodha?
GTT order facility is provided by Zerodha discount stock broker. Good Till Trigger remains active across multiple trading sessions. GTT orders are of buy type or sell type.
Buy GTT order is used for buying stock for the delivery. In GTT buy order stock will be purchased once trigger price is reached. Second type of order is Sell GTT order. Sell GTT order is used for selling stock. Sell order is of two type stoploss and target. In this order any of the one condition is met other gets cancel it is also known as OCO.
To create GTT order at Zerodha, Login to the Kite using Zerodha login and password. Now find out the stock for which you want to generate order. Add stock to market watch and click on the three dot icon and select create GTT.
Now you will be able to see screen where you can select transaction type, enter the trigger price and quantity. Once you are done you need to click place button.
Refer to image given below where example of buy GTT is given for the Reliance stock. Where trigger price is set at Rs.1500. On this price order will be sent to exchange. The second price is limit price Rs.1505. On limit price share will be purchased.
How to create VTC order at ICICI Direct?
VTC order facility is provided by ICICI direct. VTC order allows customer to define number of days for the cancellation. The maximum days allowed for cancellation is 45 days.
To create VTC order at ICICI direct login at ICICI direct using your customer ID and password. Once you login click on the place order button. Select the exchange and enter the stock code for which you want to place the order.
Enter the quantity and select VTC. Now you need to select the date order validity date. You can enter any date within 45 days range. Now enter the limit price and click on buy now button.
Only limit price orders are placed via VTC route. Market order cannot be placed. Customer can modify or cancel this order anytime.
Comparing GTD, GTT, and VTC Orders
| Feature | GTD | GTT | VTC |
| Duration | Till a specific date | Until triggered | Until manually canceled |
| Activation | Active till expiry | Inactive until triggered | Active indefinitely |
| Best For | Short-term trades | Conditional trades | Long-term trades |
Which Order Type Should You Use?
- Use GTD if you have a specific timeframe for your trade.
- Use GTT if you want to execute a trade only when a trigger price is met.
- Use VTC if you want your order to stay active indefinitely without a time constraint.
Conclusion
Understanding GTD, GTT, and VTC orders can significantly enhance your trading strategy. These orders help automate trades, manage risks, and ensure that you don’t miss opportunities due to market fluctuations. Choosing the right order type depends on your investment goals and trading style. So, next time you place an order, pick the one that aligns with your strategy!
FAQs
1. Can I modify a GTD, GTT, or VTC order after placing it?
Yes, most trading platforms allow modifications to these orders until they are executed.
2. Do GTT orders work in all markets?
No, some stock exchanges and brokers may not support GTT orders. Check with your broker.
3. What happens if a GTD order isn’t executed by the expiration date?
The order automatically expires and is removed from the system.
4. Can I cancel a GTT order before it is triggered?
Yes, you can cancel it anytime before the trigger price is hit.
5. Is a VTC order similar to a limit order?
Yes, but with no expiration date, making it valid indefinitely.
6. Are there any additional charges for placing these orders?
This depends on your broker. Some may charge extra for advanced order types.
7. Do GTD and GTT orders guarantee execution?
No, execution depends on market conditions and liquidity.
8. Can I use GTT orders for selling as well?
Yes, GTT orders can be placed for both buying and selling.
9. What happens if a VTC order remains unexecuted for a long time?
It stays in the system until you manually cancel it.
10. How do I know which order type is best for me?
Consider your trading style: GTD for time-sensitive trades, GTT for conditional execution, and VTC for long-term strategies.
