On our trading page, we have simplified the process of placing trades manually. You are no longer required to route assets yourself if there is not a direct pairing between what you're selling and the asset you intend to purchase. Just select what you want to sell, what you want to buy - and we do the rest!
What is Smart Order Routing?
Smart Order Routing is a system designed by Shrimpy that evaluates all pairings offered on an exchange in order to optimize the outcome of a trade. This means that if an asset is offered by an exchange - Shrimpy may use it as a vehicle to move value between assets. More information about our Smart Order Routing system can be found here.
How does one enable Smart Order Routing?
You don't! Smart Order Routing is one of the most valuable benefits of using Shrimpy and it is enabled on every rebalance and trade placed through Shrimpy in order to ensure that our customers are getting the best possible prices that the market can offer for their trades.
Placing a Trade
First, you'll need to navigate to our Trading Page. Once you've done so, you'll see following page.
This is showing the exchange that is selected on your Dashboard before visiting the trading page, and to switch between exchanges on the Trading Page you'll need to first switch the exchange that is selected on your Dashboard. The portfolio shown initially is the top portfolio on your Dashboard if you are using our Multiple Portfolios feature.
At the top of the page you can select which asset is displayed on the graph, however this is not necessary for placing a trade. You can also switch between portfolios in this area.
On the right side of the page, you'll see information showing how much of the selected asset you hold on the exchange (or portfolio, if applicable) as well as current price of the assets on both sides of the trade. The "From" asset is what you intend to sell, and the "To" asset is what you intend to purchase. To make things easy, there is a "switch" button you can use to transpose the asset selection fields when necessary.
Clicking on the "Available amount" will attempt to sell the entire balance held in the "From" asset.
Once you've entered the amount of the "From" asset that you want to sell, you'll notice the buttons below this field are now enabled, and you can either "Clear" the trade to start over or "Preview" the trade.
If you're satisfied with the trade you're submitting, click on Preview to view the details of the trade. You'll see a page showing the final details of the trade being submitted including how much of each asset you'll hold after the trade is completed. At this point you can still cancel the trade without incurring additional fees, as the trade has not been submitted yet.
If you are satisfied with the results of the trade, click "Confirm". You will see a notification on the bottom of your screen stating "Success! We have successfully queued your trade."
And that's it! By this point you have successfully traded using Simple Trading with Smart Order Routing enabled and your Dashboard will have been updated to reflect the results of your trade. Wasn't that easy? Now comes the hard part - deciding what to do with all this time you're saving!
That's nice and all, but I prefer to do things myself...
And we definitely kept you in mind if this applies to you! If you don't want to use Smart Order Routing and would prefer to manage the routing yourself when trading manually, you have the option to do this by enabling "Advanced Trading" on the trading page as shown in the screenshot below!
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.