(A Step-by-Step Guide)
Zerodha, a leading stock brokerage firm, offers a range of trading tools to empower investors. One such tool is the Good Till Triggered (GTT) order, which allows traders to set specific conditions for executing their trades. However, there are instances when you might need to cancel a GTT order due to changing market conditions or altered trading strategies.
To cancel a GTT order in Zerodha, log in to your account, access the “Orders” section, identify the specific GTT order, and click the “Cancel” option. Confirm your decision, and the order will be successfully canceled, giving you more control over your trading strategy.
In this article, we’ll guide you through the process of canceling a GTT order in Zerodha, ensuring a seamless trading experience.
7 Steps How to Cancel GTT Order in Zerodha:
These are the 7 common steps to complete the job with ease. Let’s look at a glance.
Step 1: Log In to Your Zerodha Account
Begin by logging in to your Zerodha account using your registered credentials. Make sure you have access to your trading dashboard.
Step 2: Access “Orders”
Navigate to the “Orders” tab or section on your trading dashboard. This is where you can view all your active and pending orders, including your GTT orders.
Step 3: Identify Your GTT Order
Among the list of orders, identify the specific GTT order you wish to cancel. GTT orders usually include details about the triggering conditions and the security you’re trading.
Step 4: Click on the GTT Order
Click on the GTT order you want to cancel. This will open up the order details, allowing you to view the triggering conditions and other relevant information.
Step 5: Cancel the GTT Order
Within the order details, you’ll find an option to cancel the GTT order. Click on the “Cancel” or “Cancel GTT Order” button to initiate the cancellation process.
Step 6: Confirm the Cancellation
A confirmation prompt will appear to ensure that you indeed want to cancel the GTT order. Confirm your decision to proceed with the cancellation.
Step 7: Verify Cancellation
Once the cancellation is confirmed, the GTT order will be removed from your active orders list. You will no longer need to worry about the trade being executed based on the set conditions.
Helpful Resource:
FAQs:
Can I cancel a GTT order before it’s triggered?
Yes, you can cancel a GTT order anytime before it gets triggered. Access your Zerodha account, navigate to the “Orders” section, locate the GTT order, and cancel it following the steps outlined in the guide.
What happens if a GTT order is partially executed?
If a GTT order is partially executed, you can still cancel the remaining unexecuted portion of the order. The executed part will be considered a regular executed trade.
Can I modify a GTT order instead of canceling it?
As of my last update in September 2021, Zerodha doesn’t support modifying GTT orders. You need to cancel the existing order and create a new one with the desired modifications.
Is there a time limit for canceling a GTT order?
You can cancel a GTT order anytime before its triggering conditions are met. Once the order is triggered and executed, it can’t be canceled.
Can I cancel a GTT order through the Zerodha app?
Yes, you can cancel a GTT order through the Zerodha app by accessing your account, navigating to the “Orders” section, and following the same cancellation process outlined in the guide.
Will canceling a GTT order incur any charges?
Canceling a GTT order doesn’t typically incur any charges. However, it’s always advisable to check Zerodha’s fee structure for any potential updates or changes.
What if I accidentally cancel the wrong GTT order?
If you accidentally cancel the wrong GTT order, double-check your actions and confirm the cancellation. If the order was indeed canceled in error, you may need to re-enter it with the correct parameters.
Can I cancel a GTT order during after-market hours?
Yes, you can cancel a GTT order during after-market hours as well, provided the triggering conditions haven’t been met. Zerodha’s online platform allows for order management 24/7.
Is there a limit to the number of GTT orders I can cancel?
As of my last update, there’s no specific limit on the number of GTT orders you can cancel. You can cancel multiple GTT orders as long as they haven’t been triggered.
What if the cancel option isn’t available for my GTT order?
If the cancel option isn’t available for your GTT order, ensure that the order hasn’t already been triggered. If it has, you won’t be able to cancel it. For any further issues, consider reaching out to Zerodha’s customer support for assistance.
Conclusion:
Canceling a GTT 
order in Zerodha is a straightforward process that can be completed through your trading dashboard. By following the step-by-step guide outlined in this article, you can easily navigate the cancellation process. Remember to log in to your account, access the “Orders” section, identify the specific GTT order, and initiate the cancellation. Confirm your decision, and your GTT order will be successfully canceled.
This knowledge empowers you to make real-time decisions that align with your trading strategy, ensuring a more controlled and efficient trading experience on the Zerodha platform.
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