I'm giving my daughter my old ipad. If I reset that ipad will it automatically reset my new ipad, since they are on iCloud?

No. If you erase the old iPad you still have to restore the new iPad from your iCloud backup, you have to select the option to restore the new iPad from the iCloud backup when you activate the device.

If you mean when you erase the old iPad will that affect the new iPad in any way, the answer is no it will not.

No. Resetting is independent. Once reset, it will be back to how it was when you first took it out of the box. With nothing on it, and no connection to icloud.

Look at this link.

Giving your former iPad to a spouse or family member: the quick guide

http://www.tuaw.com/2012/03/17/giving-your-former-ipad-to-a-spouse-or-family-mem ber-the-quick/

 Cheers, Tom 😉