Topic: First trading attempt problem. (GDAX) (Read 153 times)
The interface can be a little confusing the first time you are looking at it and a LOT of people have made mistakes when first starting and losing money by accidentally selling too low or buying too high. This is especially true for some of the exchanges with less user friendly UIs
Hello all,
I'm a total newbie to crypto and am trying to do my first buy limit order on GDAX. I only want to risk $1.00 0f BTC for this first trading experiment. If I understand the conversion properly, $1.00USD is equal to 0.00012298 BTC.
I have highlighted "Limit buy"section. I have inserted 0.00012298 BTC ($1.00 USD) in the amount box. I have inserted my desired limit price at a lower amount than the current market price. The execution box is "Post Only." When I select "Place buy order" a message appears saying "please enter a number" even though the 0.00012298 BTC is in the box.
I'm hoping someone with GDAX experience can help.
I'm a total newbie to crypto and am trying to do my first buy limit order on GDAX. I only want to risk $1.00 0f BTC for this first trading experiment. If I understand the conversion properly, $1.00USD is equal to 0.00012298 BTC.
I have highlighted "Limit buy"section. I have inserted 0.00012298 BTC ($1.00 USD) in the amount box. I have inserted my desired limit price at a lower amount than the current market price. The execution box is "Post Only." When I select "Place buy order" a message appears saying "please enter a number" even though the 0.00012298 BTC is in the box.
I'm hoping someone with GDAX experience can help.
before selling how many crypto will be sold, you better make sure first what price you want to sell, then you just decide how many crypto you want to
Yeah, it's definitely below the minimal purchase. You're going to have to risk a bit more.
I've used GDAX hundreds to times though, with no issues. There's plenty of YouTube's out there to ensure you're doing the limit order properly.
I've used GDAX hundreds to times though, with no issues. There's plenty of YouTube's out there to ensure you're doing the limit order properly.
Could you post a screen shot? I'm unable to replicate your exact error. This is what I get depending on the inputs:
Amount blank, Limit blank: "Amount must be specified"
Amount >= 0.001, Limit blank: "Price must be specified"
Amount blank, Limit set properly: "Amount must be specified"
Amount >= 0.001, Limit set properly: order is placed
Amount < 0.001: "Amount must be greater than 0.001"
Amount >= 0.001, Limit set incorrectly: "Post Only: Cannot place order at xxx USD/BTC."
All of these messages appear just below the Place Order button after I press it.
Have you tried reloading the web page?
Amount blank, Limit blank: "Amount must be specified"
Amount >= 0.001, Limit blank: "Price must be specified"
Amount blank, Limit set properly: "Amount must be specified"
Amount >= 0.001, Limit set properly: order is placed
Amount < 0.001: "Amount must be greater than 0.001"
Amount >= 0.001, Limit set incorrectly: "Post Only: Cannot place order at xxx USD/BTC."
All of these messages appear just below the Place Order button after I press it.
Have you tried reloading the web page?
there is always a limit for the size of the orders you can place on any exchange it is usually 0.0001BTC-0.0005BTC.
for GDAX this limit is 0.001 BTC, 0.01 ETH, or 0.1 LTC [1]. in other words you have to buy at least 0.001BTC which is worth $8.56 (current price is $8560).
[1] https://support.gdax.com/customer/en/portal/articles/2426595-gdax-limits-for-deposits-withdrawals-trades-and-balances
for GDAX this limit is 0.001 BTC, 0.01 ETH, or 0.1 LTC [1]. in other words you have to buy at least 0.001BTC which is worth $8.56 (current price is $8560).
[1] https://support.gdax.com/customer/en/portal/articles/2426595-gdax-limits-for-deposits-withdrawals-trades-and-balances
I don't use GDAX, but I'd guess:
- You probably need to put the full USD/BTC price as the limit price (so ~8000), even if you intend to buy less than 1 BTC.
- Or maybe GDAX just doesn't support such small amounts.
- You probably need to put the full USD/BTC price as the limit price (so ~8000), even if you intend to buy less than 1 BTC.
- Or maybe GDAX just doesn't support such small amounts.
Hello all,
I'm a total newbie to crypto and am trying to do my first buy limit order on GDAX. I only want to risk $1.00 0f BTC for this first trading experiment. If I understand the conversion properly, $1.00USD is equal to 0.00012298 BTC.
I have highlighted "Limit buy"section. I have inserted 0.00012298 BTC ($1.00 USD) in the amount box. I have inserted my desired limit price at a lower amount than the current market price. The execution box is "Post Only." When I select "Place buy order" a message appears saying "please enter a number" even though the 0.00012298 BTC is in the box.
I'm hoping someone with GDAX experience can help.
I'm a total newbie to crypto and am trying to do my first buy limit order on GDAX. I only want to risk $1.00 0f BTC for this first trading experiment. If I understand the conversion properly, $1.00USD is equal to 0.00012298 BTC.
I have highlighted "Limit buy"section. I have inserted 0.00012298 BTC ($1.00 USD) in the amount box. I have inserted my desired limit price at a lower amount than the current market price. The execution box is "Post Only." When I select "Place buy order" a message appears saying "please enter a number" even though the 0.00012298 BTC is in the box.
I'm hoping someone with GDAX experience can help.
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