Bitcoin Forum
December 12, 2019, 09:04:22 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: First trading attempt problem. (GDAX)  (Read 103 times)
MTwallet
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile
March 18, 2018, 11:14:20 PM
 #1

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.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1576184662
Hero Member
*
Offline Offline

Posts: 1576184662

View Profile Personal Message (Offline)

Ignore
1576184662
Reply with quote  #2

1576184662
Report to moderator
1576184662
Hero Member
*
Offline Offline

Posts: 1576184662

View Profile Personal Message (Offline)

Ignore
1576184662
Reply with quote  #2

1576184662
Report to moderator
theymos
Administrator
Legendary
*
Offline Offline

Activity: 3598
Merit: 7354


View Profile
March 20, 2018, 02:59:45 AM
Last edit: March 20, 2018, 04:19:40 AM by theymos
 #2

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.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
pooya87
Legendary
*
Offline Offline

Activity: 1848
Merit: 2110


Remember tonight for it's the beginning of forever


View Profile
March 20, 2018, 04:31:17 AM
Merited by theymos_away (2)
 #3

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

CoinsCoinsEverywhere
Hero Member
*****
Offline Offline

Activity: 532
Merit: 500


View Profile
March 20, 2018, 08:00:00 AM
 #4

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?
ikilledcobain
Sr. Member
****
Offline Offline

Activity: 448
Merit: 251



View Profile
March 20, 2018, 03:42:19 PM
 #5

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.

           ▀██▄ ▄██▀
            ▐█████▌
           ▄███▀███▄
         ▄████▄  ▀███▄
       ▄███▀ ▀██▄  ▀███▄
     ▄███▀  ▄█████▄  ▀███▄
   ▄███▀  ▄███▀ ▀███▄  ▀███▄
  ███▀  ▄████▌   ▐████▄  ▀███
 ███   ██▀  ██▄ ▄██  ▀██   ███
███   ███  ███   ███  ███   ███
███   ███   ███████   ███   ███
 ███   ███▄▄       ▄▄███   ███
  ███▄   ▀▀█████████▀▀   ▄███
   ▀████▄▄           ▄▄████▀
      ▀▀███████████████▀▀
DeepOnion
Anonymous and Untraceable
ANN  Whitepaper  Facebook  Twitter  Telegram  Discord 





      ▄▄██████████▄▄
    ▄███▀▀      ▀▀█▀   ▄▄
   ███▀              ▄███
  ███              ▄███▀   ▄▄
 ███▌  ▄▄▄▄      ▄███▀   ▄███
▐███  ██████   ▄███▀   ▄███▀
███▌ ███  ███▄███▀   ▄███▀
███▌ ███   ████▀   ▄███▀
███▌  ███   █▀   ▄███▀  ███
▐███   ███     ▄███▀   ███
 ███▌   ███  ▄███▀     ███
  ███    ██████▀      ███
   ███▄             ▄███
    ▀███▄▄       ▄▄███▀
      ▀▀███████████▀▀
.
dragonball12
Newbie
*
Offline Offline

Activity: 123
Merit: 0


View Profile
March 20, 2018, 03:47:41 PM
 #6

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.

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
DanielRR1997
Member
**
Offline Offline

Activity: 196
Merit: 14


View Profile
March 20, 2018, 06:42:01 PM
 #7

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
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!