G Dax gonna talk about G Dax in this video and some of the tips some of the things I've learned the last couple weeks using it every single day stay tuned what's going on guys so obviously if you're here you probably have an idea of what G Dax is this is the exchange for coinbase now coinbase when you buy and sell on coinbase you pay a fee and those orders are being placed through G Dax if that makes sense so all the luca de t that coinbase has is coming from G Dax there's the market basically that you know they have this market here the market is being made people are trying to buy and and then orders are being executed through the coin based app through the coin based website so G Dax is the exchange that coinbase uses and that's where all the liquidity is that's the liquidity pool people buying and selling they're on G Dax and that's what's working with coinbase some of the things that I've learned using it in the last couple weeks some tips I think you guys might appreciate first thing people ask me how do I deposit money into G Dax it's very simple I'm gonna go here to deposit hit that deposit you'll show up here it'll say your coin based account you can put okay I wanted to pause at this much money if I have Bitcoin I'm gonna deposit that Bitcoin into my G Dax account so I want to do that it'll show up automatically there are no fees for transferring from coinbase to G Dax that's one good thing about using the system and it's fast it's simple and it's easy it goes right away there's no wait time or like that you don't wait for it to clear another thing also people ask how do I withdrawal same thing I don't like withdrawal right there you can withdrawal to your Bitcoin address whatever you want to do you can do it right there and which we're all front so if you have another wallet or if you have another way of holding it you can do it right there in GD X and withdraw no fees again other than paying the network fees for Bitcoin which can be a bit expensive sometimes so the chart here on G Dax is definitely not the best chart I've talked about this before using tradingview dot-com if you want to really dive into the charts chart on the website it works it's definitely not the best but it'll work for what you need to a lot of times I'll trade on the 5-minute chart or if I'm really getting crazy I might trade on the 1-minute chart but overall I'm usually looking at the 5-minute chart you cannot zoom out which is one frustrating part of using that so if you want to look at the 5 min chart you can only see what's there if you want to you know look at the daily chart you can only see like that so there's no way to zoom out the chart here that's one issue but the one cool thing is if you do highlight the candle you can see okay see the low in the high of the candle there at the top 13 5000 19,000 it'll show you the volume and all that fun stuff there on these lines here I've got the EMA so I got to eat 12 EMA I've got the 26 EMA that's the exponential moving average if you want to learn more about that check out some of the stock trading videos day trading videos learning about the exponential moving average but you can see those are the lines there and that's kind of the overall trend showing me you know where we're going where we're at where that support is a lot of times traders do trade off of these lines and people are looking at those lines those EMA lines as indicators for where that support where that resistance might be the reason that we use G Dax instead of buying through coinbase and selling through coinbase is not having to pay the fees so if you do use G Dax make sure you're not using market orders if you want to buy instantly you can use a market or let's say you just really want to get in badly and you want to get in there you can buy right there so if I wanted to buy you know right there I place my buy order it would automatically go and I don't have to wait now if I don't want to pay any fees I can use the limit order I've talked about this before I'm basically gonna buy there with the limit now I'm looking the bottom here is the green area which is the buy side the red side is the sell side and you can see we have a little bit of a spread right now between the two only about 1 cent spread so if I wanted to fill there I can actually click on this there if I wanted to buy there at that I can click on this which is kind of nice off to actually type that price in there so if I want to put my order on the book I can click click click and get my order out there and that's nice thing to do so then I can put in how many Bitcoin I want to buy I put that in there and then that's gonna show up down there so if I wanted to buy 1,200 Bitcoin that would cost me that much there over 17 million or whatever that is there on that number now another way and also the same thing if I wanted to sell I'm gonna click buy or sell and then put that out there another thing you can use is a stop order now I don't suggest using for a couple reasons because what happens is let's see the price of this drops from fourteen three hundred down there to twelve thousand dollars really really quickly and then all the sudden comes right back up if you have a stop out there if you have a stop order at thirteen thousand it drops of twelve thousand you get filled at the market so you're gonna get filled at twelve thousand or what that low price is so if it's gonna drop really quickly you're gonna get a really really bad fill so be careful if you're using stop orders a lot of times when we do get these big sell offs when the market does start crashing it's because but are using these stop market orders and they're getting out no matter what they're too scared or the panicking or really just the computer's putting out order through there and you're getting filled much lower than you want to be and I think if you're gonna be trading cryptocurrencies probably was keeping an eye on it and not actually using stop orders another thing you can look at here is you have this so this is kind of the market price where we're at in the middle which is kind of cool it'll show you where people are buying where people are selling I'll show you kind of support you can see right now we got a decent amount of buying all the way down there to the four thousand dollar area but if you do zoom out you can see kind of all the way down where the buyers are where the sellers are and look at this and then zooming back in kind of get a little bit closer you can see this kind of cliffs so these cliffs here are kind of showing where that support is where that resistance is right now we had a lot of cell pressure so we're showing kind of that cliff right there on the sell side so this is a sell side the red red is always gonna be sell greens always gonna be buying side same thing with the candle so you got red candles that's a bad that's selling and they've got green candles that's good we got buying obviously these candles are gonna be showing you know like at the bottom of these candles that's the range these wicks on these candles are the range and the actual body of the candle is showing the open the clothes where that cannot open at the bottom and then where it closed that so if it's a red candle it's gonna be the top is where it opened at and the bottom is where it closed at so this is the 1-day chart this is showing these are actual candles for one whole day of movement you can see some of these candles are kind of big range of them this one's 15,000 down there to ten thousand last time that's sold off there before Christmas you can see that big range big wick here so this got bought up pretty quickly and then ended up closing there at the $14,000 area another thing you can do is you can go over here to the account side you can look at your phil's and show all your fills there and you'll be able to buy sell and see all that action and you can actually download receipt download a statement for your taxes and all that stuff there and you can see some of the orders that you put out there as well so that's on the side there if you want to click there the trade when you do have an open order it's gonna show up here and an open order area when you get spilled it's gonna show up here on the fill side so we have open order there and the fill side here on the right side is going to be the trade history which is showing the actual trades that have been cleared or filled so right there people are buying there at fourteen thousand nine hundred and ninety three and is showing the trade size and showing what's actually printing and what's actually getting done so these are trades that are actually done so when the trade goes through it shows up over here on the trade side on the trade history so there it is on the right and then these are so this is the order book showing where the buyers where the sellers are sitting and where they're trying to get filled if I want to increase the order book so it doesn't show me every single cent I can go down here and click on this little button there and press that and it'll show me now ten cents if I want to zoom in fifty cents it'll show me that and I can zoom it all the way to a dollar so to make it a little bit easier to read the order book if I can show okay now I can see so pretty simple rundown here on G Dax are gonna see the volume up here this is the volume this is how many Bitcoin have been traded in the last 24 hours you're gonna be showing the last 24 hour price range so we're down seven point thirty one percent it's gonna show the last trade price there so that's all the information I've got on G Dax nothing too crazy really overall in general it's simple it's easy if you guys haven't already make sure you check out G Dax if you're gonna be trading if you're gonna be buying and selling definitely check out G Dax that way you don't pay the fees that are using a coin base and you can actually get a lot better fills on some of these dips compared to using coin base so hopefully this helps you guys if you have more questions leave a comment below and like always hit that subscribe button help me help you now talk to you soon