Launching VTT Orders

Launching VTT Orders

Investments can really get tricky sometimes. Especially given your busy lifestyle, keeping up with the stock market updates, making timely decisions, and taking action in time might get overwhelming. We understand your plight, and as an organization, it's been our endeavor not only to make the investment cost-effective but also to simplify it. So we have now introduced Valid Till Triggered (VTT), a service that allows you to set a trigger price to buy or sell a scrip based on a price trigger in the future. This makes life simpler as you don't have to track or place orders every day in scrips that you are interested in. VTT is valid for 1 year from the date of placement. To explore VTT order click here.

Understanding the components of a VTT order

Placing a VTT Order 

Step 1:- Select VTT from the order type menu.
Step 2:- Enter the price (Trigger Price) for entry in a VTT position Trigger Price field is a price that will act as a trigger before placing your (limit/market) order for the buy/sell type of VTT.
Step 3:- Enter the price (Limit Price for Initial Order) for entry in a VTT position.
The price field is the price at which an order will be placed i.e-> either a limit/market order for buy/sell type of VTT.



Here, if you wish to cover your positions, you may also place Stop Loss and Target legs at the same time.

You may follow the 3 Steps mentioned in the figure above to place the order. This will be your Initial order. 

To Add stop loss and Target legs there will be an additional step before confirming the order. 

Step 4: Switch on the toggle to add Stop Loss, which opens up the fields for stop-loss orders. 

SL Trigger Price field should have the price which will act as a trigger before placing your SL (limit/market) order. Based on the breach of this price order is placed.

(Note:- SL order is a SELL order in case of a Buy VTT order and SL order is a BUY order in case of a SELL VTT order). 

Step 5: Enter the Stop Loss Price (Limit Price for SL Order) for exit in a VTT position.
Stop Loss Price field is the price at which an order will be placed i.e-> either a limit/market order upon the breach of the set SL Trigger Price. It is placed for the same quantity as executed for the initial VTT order. 

Step 6: To Add a Target leg for a VTT order. The Target Trigger Price field should have the price which will act as a trigger before placing your Target (limit/market) order. Based on the breach of this price order is placed.

(Note:- Target order is a SELL order in case of a Buy VTT order and Target order is a BUY order in case of a SELL VTT order).

Step 7: Enter the Target Price (Limit Price for Target Order) for exit in a VTT position.
The target Price field is the price at which an order will be placed i.e-> either a limit/market order upon the breach of the set Target Trigger Price. It is placed for the same quantity as executed of the initial VTT order. 



Check your VTT orders in the VTT order book:-

All your VTT orders can be easily tracked with our VTT order book. Now you can add, reorder, modify and delete VTT orders directly from this section.



Things to note:

  • Adequate balance is required in an account at the time of order placement.
  • In the case of a non-POA account, your order can get EDIS rejection due to a lack of sell authorization. Either, daily EDIS is required for sell orders to go through without any rejection or a manual reorder of the rejected order has to be done from the order book in order to continue with your VTT order.
  • Request to convert your non-POA account to a POA account to avoid sell authorization needed at the time of placing your orders. 

Examples:

How to trade with VTT?
Buy on Support
If we expect the price for a stock (which is currently trading at about Rs. 680) to come at support (i.e:- about Rs. 660) anytime in the future.

We should place a buy order whenever the last traded price comes near our buy rate. Now, instead of placing a buy order for Rs.660/- every day until the price comes. We can place a VTT order.

VTT - Buy Initial Order

In order to buy a stock at Rs.660/- we need to put a trigger price as 660 and select either (At Market-True in case of executing a market order upon trigger) or put in a limit price (in case of filling the order at the exact price).

VTT - Add Stop Loss Order

  • First, select the Add Stop Loss option on your VTT order screen.
  • For some reason, we want to exit this position if the price goes below Rs.600. 
  • We are putting an SL trigger price as 600 and want to send an order at Rs.595 when the price hits the Stop Loss trigger price (it can also be selected At Market instead of Limit price as per requirement).

VTT - Add Target Order

  • In order to also put a target leg for this VTT order select the Add Target Price option on your VTT order screen (Below the VTT -Add Stop Loss section).
  • We want to book profit in this position if the price reaches Rs.1000. 
  • We are setting a Target trigger price as Rs.1000 and want to send an order at Market Price when the price hits the Target trigger price (it can also be selected as a limit price instead of At Market as per requirement).​​
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Also, click here and have a trading experience like never before on our web portal.