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In Shrimpy Pro, you’re able to segment your balance on an exchange into multiple portfolios using the “Manage Portfolios” button found on the Dashboard.
Let's get started by going through how to create a new "Portfolio" and how to transfer funds into that portfolio. Finally, we will finish the discussion with an example on how to begin automating both of the portfolios using individual (separate) strategies.
Multi-portfolio is a feature in Shrimpy Pro that allows you to manage multiple portfolios for a single exchange account. That means if you currently only have 1 Binance exchange account linked, you can break that one exchange account into multiple portfolios and manage each one separately. Each exchange account you link will have 1 portfolio by default, and you cannot have less than 1 portfolio. A portfolio can be considered a bucket or basket in which your assets are held, and each portfolio can have its own automation.
Creating a second portfolio
1. From the Dashboard, select "Manage Portfolios"
At the top of the dashboard, you will see a "Manage Portfolios" button. Click on this button to access the Manage Portfolios popup.
2. Create your new portfolio
Here you can see your portfolio limit, or the maximum number of portfolios you can create. This number is based on your subscription tier, and this limit is tied to each exchange account separately. That means if your limit is 5 portfolios and you have 3 exchange accounts linked, you can create up to 15 portfolios total - 5 on each exchange account.
Click on Create Portfolio to add an additional portfolio to the exchange account selected on your Dashboard.
3. Add funds to your new portfolio
After clicking the "Create Portfolio" button, you will see the new portfolio populate in the dialog. It currently has $0. In order to fund this portfolio, we will need to transfer money into the account. Let's do this by clicking on "Portfolio 1".
The following page will show the assets held within the selected portfolio and a dropdown selector for the destination portfolio. You can then select which assets and how much you want to transfer to your other portfolios. The amount you enter is the number of the asset that is moved when you select the “Transfer” button.
Note: As a safety measure, the destination portfolio is, by default, the same portfolio you’ve selected. You are essentially required to choose a destination for every transfer, this is to prevent accidentally transferring funds to the incorrect portfolio and adding funds to an active automation.
You can now close out of this dialog and start managing your individual portfolios.
Changing the Dashboard view
Your Dashboard can show either an aggregated view of all of your portfolios combined into a single performance graph and asset display, or an individual portfolio view. To choose between them, simply select “Show All” or the portfolio you wish to show on the Dashboard. These can be found under the “Manage Portfolios” button.
The default portfolio is a useful aspect of the multi-portfolio features. At its core, the default portfolio is a way to simplify how Shrimpy Pro manages external transactions.
What are external transactions?
External transactions occur when a customer executes a trade, moves funds, makes a deposit, or withdraws funds from their exchange account outside of Shrimpy Pro. That means these actions were not taken by Shrimpy Pro or through our application. They were done directly on the exchange outside of our influence.
These actions are a completely normal part of trading, but they need to be managed effectively by Shrimpy Pro so we have consistent behavior that provides a pleasant experience.
The default portfolio helps mitigate potential problems that might be caused by external transactions.
What is the default portfolio?
A default portfolio is the portfolio that tracks the changes made outside of Shrimpy Pro. Whenever a change is detected, the default portfolio is the first portfolio that will be affected.
Some situations that affect the default portfolio include:
· Any deposits into your exchange account will first show up in your Default Portfolio.
· Withdrawals will first be processed by removing funds from this portfolio.
· Trades made on the exchange will move the traded asset into the Default Portfolio (if not already).
In a way, we can see this portfolio as the entry, exit, and manual trading (outside of Shrimpy Pro) portfolio for your assets.
Note: If you don't make any external transactions, such as deposits / withdrawals or trades on the exchange, the default portfolio is essentially the same as any other portfolio.
How do I change my default portfolio?
There are a few quick steps we should understand for selecting a new default portfolio. If you only have one portfolio, then that is your default portfolio. Everyone has a default portfolio automatically created by Shrimpy Pro. However, once you start creating additional portfolios, you can change which portfolio is the default portfolio.
1. From the Dashboard, select "Manage Portfolios"
2. Select the portfolio you want to be the "Default Portfolio"
A dialog will present you with the different portfolios you have for this exchange account. Select the portfolio you would like to make the "Default Portfolio".
After selecting the portfolio you want to make "Default" you will be presented with an expanded panel. This panel will show the assets you can transfer from that portfolio, but it will also have a settings button in the top right corner. Click on this “Settings” button.
3. Click the check box to make the portfolio default.
After bringing up the settings menu, you will see a screen that will include options for changing the name of the portfolio along with a check box to make this portfolio default.
Select the check box next to "Default portfolio". This will instantly make the portfolio you are viewing "Default".
You have changed your default portfolio on your Shrimpy Pro account and you can exit this page by using the back arrow at the top of the popup.
You do not need to create multiple portfolios if you don't want. You can always use Shrimpy Pro with a single portfolio. That one portfolio would be the default portfolio. If using a single portfolio, all funds added to your exchange account would be used by your automation immediately.
Selecting Automations for Each Portfolio
Now that we have our portfolios set up the way we want, it's time to begin automating these portfolios. The great thing about Shrimpy Pro is you can automate each portfolio individually. That means you can implement multiple trading strategies on the same exchange account at the same time!
Let's do so now with the portfolios we created!
1. Create a new automation (or index)
Start by going to the automation tab. If you haven't created an automation already, select to create an automation. This will bring you to this screen below.
We then want to either "Pick Assets" or "Create Index". Using the pick assets option will allow us to individually select the assets we want in our portfolio. If we use the "Create Index" option, we can select a range of assets based on market cap to include in our portfolio. For this tutorial, let's select "Pick Assets".
2. Add assets into your automation
On the following page, you can choose to allocate an automation from your current balances, or you can access the asset selection page by clicking on the “Select Assets” button.
We should now pick the assets we want in our portfolio and click "Add" at the bottom of the page. The assets you’ve selected will be added to your automation and you’ll be brought back to the previous page.
3. Allocate those assets and choose your rebalance strategy
Here you’ll indicate your desired allocations for each asset as well as set your rebalance threshold or period (but not both.) An asset cannot be allocated at 0% and you must allocate 100% of your balance between the assets you’ve selected. Once you’re satisfied click save at the bottom.
4. Save and name your automation
After saving, you will be prompted to name your automation. It's ideal to name it something relevant to you, that way you can easily identify the automation strategy if adjustment is required. You can change this name at any time by using the edit button shown below.
5. Assign your automation to a portfolio
After naming your portfolio, the last step is to assign your automation to a portfolio by clicking on the “Start Automation” button in the top right corner of the automation page. You will then be prompted to select a portfolio and you also have the option to rebalance immediately to begin the new automation strategy. Once you’re satisfied, select “Start”.
You have created an automation and successfully assigned it to a portfolio!
Have questions, comments or concerns? Feel free to reach out to us via the blue "Support" button found in the bottom left corner of your Dashboard, or send an email to Support@Shrimpy.io.