Update: The word "Activate" is no longer used by the Shrimpy team. Instead, we refer to "Automating Portfolios". This article has been updated accordingly
When you begin using the Shrimpy application, one of the first things you will notice is the use of automations on the "Automation" tab. This feature allows users to create as many different sets of allocations and strategies as they desire. These different automations 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 automation can be activated for a single portfolio at any given time. That means for each portfolio in your linked exchange account, you can only have one automation for each portfolio. If you have 3 different portfolios that have been created, you can have one automation active for each portfolio.
- Shrimpy will not currently trade for a portfolio if it does not have an automation attached to the portfolio. These funds are essentially "blacklisted" from Shrimpy. Automations can be unlinked from a portfolio at any time to stop automating.
- The automation that is currently active for a portfolio will be the one allocated when you select the "Rebalance Now" button for that portfolio. It will also define the rules for the way that portfolio is automated.
These rules also apply to the social features. Following a leader's automation will automate the portfolio which you attach it to. In order to stop the leader from automating your portfolio, you must unfollow the leader.
Starting an automation on the "Automation" tab and selecting a portfolio 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 later. 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.