So now Let’s talk about what is the meaning of the GFD, My GTD and IOC Order Validity In sharekhan trade tiger terminal. If you are recently start using trade tiger terminal then you definitely don’t know what is the meaning of the GFD, My GTD and IOC in order validity dropdown menu. But don’t worry as always I’m here to help you out. So let’s started with the GFD.
GFD: The meaning of GFD is (Good for Day). So as a name suggest this type of order is only valid for a that day when you entered the order. If the order value don’t matched during that day then its automatically cancelled by the system. Let’s understand this with an a example. Suppose that you want to buy a ICICI bank stock at the price of ₹318.7 & the current market price of that stock is ₹320.
After entering the price in price section if you choose GFD in order validity drop-down then your order will only valid for the that particular day. If your order is not executed (If the price of the ICICI Stock is not reached to 318.7 form 320) on that particular day then the order you entered is automatically cancelled by the system. In simple words if you choose GFD then system will not carry forward your order for next day. If your order executed than its fine otherwise it will automatically cancelled by system.
My GTC: The meaning of GTC is (Good Till Cancelled). So as a name suggest this type of limit order is valid & remain in the system till your given date. If your order is executed till given date then its fine otherwise its automatically cancelled by the system if its not executed till given date.
This is the example of the My GTC order. The current market price of ICICI bank is 320 & I want to purchased it for 317. So I entered 317 in price option but I also want my this limit order is remain in the system till 29/11/2017. So I entered this date in date section and hit place button. So now my this limit order will remained in system till 29/11/2017. If my order not executed till my given date then its automatically cancelled by the system. If my order not executed today then system took this order forward for next day but system will only took my order further till my given date. Which is 29/11/2017 in this example.
IOC: The meaning of IOC is (Immediate or Cancel). So as a name suggests this type of order only remain in the market for a fraction of seconds. After clicking on the place order button your order will only remain in the market for a fraction of seconds If your entered price will not matched with the market price within the second then your order is automatically cancelled by the system. That’s why the name of this order is Immediate or Cancel. If your order will not executed Immediately then its automatically got cancelled by system. This is the example of this order. I entered the 317 in price section & select the IOC in validity option. As soon I clicked the place order button. If given price 317 don’t matched with the market price then my order immediately got cancelled. If order price is matched then it’s got executed.
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