The Shrimpy Team is excited to announce the release of a new way to manage portfolios in the Shrimpy application. This brief article will provide an introduction to how this feature works and important details that may affect the way you interact with Shrimpy.
Let’s get started by going step by step through the new “Portfolio” tab. We will construct our first portfolio and activate it so we can begin rebalancing.
Note: All users, whether old or new, should immediately “activate” a portfolio. This is done by visiting the “Portfolio” tab, selecting a portfolio, clicking “save” in the bottom right, and then clicking “Activate Portfolio”.
Following the subsequent steps, we will walk through the process of creating a portfolio and activating it for the first time.
- Navigate to the portfolio tab. Here you will see a screen that looks similar to the one below. If you have not yet activated one of your portfolios, you can do so by first clicking on the “UNSAVED PORTFOLIO”. Otherwise, you can select “Create new portfolio” to begin the portfolio construction process from scratch.
2. After selecting a portfolio, the allocation selection process should be mostly familiar for Shrimpy users who have been with us for a while. Simply select the assets you would like in your portfolio on the left. As you select them, the right side of the screen will get populated with the assets. After entering percent allocations for each of the allocations and ensuring they sum to 100%, select “SAVE” in the lower right corner.
If you already had an existing “UNSAVED PORTFOLIO” from being a past Shrimpy user and this is your first time trying to activate a portfolio, you will also need to click “SAVE” before you can activate the portfolio.
3. After selecting to save your portfolio, don’t forget to give it a name in the dialog screen that pops up, so you can remember the purpose of these allocations. Once you are done, click “save”.
4. Now that your portfolio has been successfully saved, there is now an additional step which has been released with this update. The concept of “Activated” portfolios was not present in previous version of Shrimpy. The purpose of “activating” a portfolio is to tell Shrimpy which portfolio is currently being used. This allows you to quickly switch which portfolio is active, execute a rebalance, and migrate to a new strategy seamlessly.
Click the “Activate Portfolio” button to activate this as your current portfolio.
5. Activating one of your custom portfolios will not cause Shrimpy to execute any trades. You will still need to select the “Rebalance Now” button on the dashboard of the Shrimpy application in order to execute the trades to construct the “Activated” portfolio. Alternatively, you can set a rebalance period and the trades will be executed at the time of your next scheduled rebalance.
Note: Selecting “Activate” on a social portfolio will immidiately perform trades to match the allocations of the leader and continuously update your portfolio as the leader makes changes.
6. You can now see the portfolio is activated. Don’t forget to select and save a rebalance period so Shrimpy can continue to maintain your target allocations over time.
The allocations for your activated portfolio can be updated at any time. Simply modify the portfolio in any way you wish and then select “SAVE” again. This will overwrite your old allocations and make these new allocations activated.
In a similar way, allocations can be updated at any time for non-activated portfolios. Updating a non-activated portfolio will have no affect on activated portfolios. It will remain non-activated until the “Activate Portfolio” button is pressed on the portfolio that should be activated.
In addition to the new options for creating portfolios, you can also copy portfolios from social leader profiles or from the backtests tab. This allows for a quick way to save any number of portfolios to the “Portfolio” tab. All of which can then be managed from a central location.