When you begin using the Shrimpy application, one of the first things you will notice is the use of portfolios on the "Portfolio" tab. This feature allows users to create as many different sets of allocations and strategies as they desire. These different portfolios can then be used to quickly switch between different asset allocations based on the state of the market, personal strategies, and more.
There are a three major rules the Shrimpy application will follow when it comes to creating and managing portfolios.
- Only one portfolio can be activated at any given time per exchange account. That means for each exchange account you have linked to Shrimpy, you can have one portfolio active for EACH exchange account. If you have 10 exchange accounts linked, you can therefore have up to 10 portfolios active simultaneously (one on each exchange account).
- There must always be an active portfolio on your account after creating your first portfolio. This means that as soon as you create your first portfolio, Shrimpy will automatically "Activate" that portfolio.
- The portfolio which is currently "Activated" is the portfolio which will be allocated on the exchange when the "Rebalance Now" button is selected.
The results of these rules may be confusing at first, but they simplify the process once they are understood. In this way, we can quickly understand what actions are not possible and what actions are encouraged. For example, no portfolio can be "Deactivated", instead, a new portfolio should be "Activated". This will essentially "Deactivate" the old portfolio and then "Activate" the new portfolio.
These rules also apply to the social features. Leaders cannot be "Deactivated". Either a custom portfolio or a new leader should be selected as the current "Active" portfolio if you wish to no longer follow the changes from a leader.
Activating a portfolio on the "Portfolio" tab will prompt you to ask if you would like to rebalance immediately. If you select to rebalance immediately, the portfolio will instantly be allocated. You can also select to rebalance at any moment (or allocate your portfolio at a later time) by selecting the "Rebalance Now" button on the dashboard to execute the trades to allocate the portfolio.
Activating a leader will immediately execute a rebalance to match your portfolio to your leaders portfolio.