I’m thinking of funding my GDAX of $100 just to try it out for day trading. My question is. If I purchase $100 worth of bitcoin and sell it for $110 does the money goes to my cash wallet or my btcusd balance? I would like to do this back and fourth so when example my profit of $110 I would like to purchase more btcusd and sell it when the time is right. Rinse and repeat. Correct me if this how it goes in GDAX swing trading.
It goes to GDAX usd balance and stays there until you manually transfer it to your CoinBase USD wallet.
If you buy directly on coinbase and trade on gdax: $100 USD = ~0.00871438 btc
Keep in mine coinbase and gdax fees.
If btc goes up and you sell, BTC -> USD.
Then I assume you wish to buy low in which it will be USD -> BTC.
When selling crypto to fiat, there are fees involved.
If you want to take advantage of swings, consider leverage trading on Bitmex.
So it becomes usd and when prices goes up the usd (wallet money) wont move is this right?
That is correct. Once you sell BTC for cash the cash value remains unchanged.
Yes it acts as @cryptocharlie16 stated. I am curious as to your confusion here what did you think would happen? I only ask this because I like to understand how others come to their conclusions or in this case confuse what I see as a clear and concise process.
So when placing a market trade in GDAX we use USD or BTC amount to buy right?
Kind of confused here or if I have only example $10 USD I can buy BTC/USD even if my BTC is zero.
I suggest you use limit order instead of Market order when trading BTC. Also, go through peter’s training videos on GDAX, the videos should clarify most of your questions.
use fiat from coinbase and transfer to gdax no fees invovled. do not buy BTC from coinbase you will be paying fees. move $$ to Gdax and trade there.
when trading on gdax to avoid fees use limit or stop buy/sell do not buy market.
and if you want to completely avoid fees use limit buy/sell - post only to be a maker and not taker.