Automation Profits

AI-Driven Wealth, Hands Free - The 7 Day Challenge

DAY 4 - Demo Trading Practice

Progress Bar | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 | Day 7 |

Trading Platform Comparison Table

Feature

Cryptohopper Demo

Binance Demo

TradingView Paper Trading

Ease of Use

High - Beginner-friendly interface

Moderate - Designed for experienced users

High - Intuitive and clean interface

Advanced - Includes AI strategy configuration

Basic - No advanced AI tools

None - Focused on manual trading

AI Tools

Asset Collection

Moderate - Supports major crypto pairs

Extensive - Wide range of crypto assets

Extensive - Covers crypto, stocks, and forex

Extensive - Allows custom strategy creation

Limited - Basic trading options only

Extensive - Highly customizable charts

Customization Options

Analytics & Reporting

Comprehensive - Detailed trade insights

Moderate - Standard reporting tools

Advanced - Detailed technical analysis tools

Choosing Your Platform

CHOOSE YOUR PLATFORM

STEP 1

Start by selecting a demo trading platform to practice with.
Here are some recommendations to help you get started:

TradingView Paper Trading

Binance
Demo

Cryptohopper Demo

Binance Demo

TradingView Demo

Cryptohopper Demo

User-friendly platform with AI-driven strategy configurations.

Popular for its comprehensive tools and large selection of assets.

Ideal for testing strategies without real capital.

Note: By clicking the links above, you will be redirected to an external platform. Ensure you follow their guidelines to set up your account safely.

Setting Up Your Demo Account

SET UP YOUR DEMO ACCOUNT

STEP 2

Configure your demo trading account to align with your trading strategy. These steps will ensure you’re ready for your first demo trade.

Log into the demo platform of your choice from step 1

Select a trading pair (as this is your first time you can select BTC/USDT for simplicity)

Set risk parameters:

Stop-loss
Take-profit
Position size

Choose your AI strategy (if applicable)

Ensure all parameters are set correctly before proceeding to your first trade.

How do I select a trading pair for my demo account?

Choose a trading pair based on market activity and your strategy, through your first steps, it's recommended to choose a simple pair, such as BTC/USDT or ETH/USDT
What is a stop-loss, and how should I set it up?

A stop-loss limits potential losses. Configure it as a percentage of the trade value (e.g., 2% below the entry price).
How do I choose an AI strategy for demo trading?

Select a pre-built AI strategy on platforms like Cryptohopper or create your own by adjusting risk settings and indicators.
What position size should I use for demo trading?

Start with a small fraction of your virtual capital (e.g., 1-5%) to simulate real-world risk management.
How do I enable take-profit in my demo account?

Set a percentage above the entry price where your trade automatically closes for profit (e.g., 5-10%).
What timeframe should I choose for testing my strategy?

Select a timeframe based on your strategy: 1-minute or 5-minute charts for scalping, daily charts for swing trades.
Can I save and reuse my trading configurations?

Most platforms allow you to save strategies or configurations to apply them to future trades.
What happens if I exceed the allocated virtual funds?

Reset your demo account to restore virtual capital and continue testing.
How can I ensure my demo account settings match real trading conditions?

Adjust risk parameters, slippage, and fees to reflect real-market scenarios.
How do I test multiple strategies simultaneously in my demo account?

Some platforms allow creating separate accounts or sub-accounts to test multiple strategies side-by-side.

While this FAQ addresses the most common questions about setting up and configuring your demo account, our full mini-course dives deeper into mastering these tools and strategies for success

Execute Your First Demo Trade

STEP 3

Now that your account is set up, it's time to place your first demo trade. Follow these simple steps to select a trading pair and execute your trade confidently.

Select a Trading Pair

For our sample demo trade we'll go for the popular pair: BTC/USDT

Enter Trade Details:

1. Specify the amount to trade

2. Set risk management parameters (stop-loss, take-profit)

Place the Trade:

1. Locate the
"Buy" or "Sell" Button

2. Confirm the trade after reviewing details

Monitor the Trade:

Look at the "Open Trades" section on your trading platform for live performance tracking

Check List

Trading pair selected

Trade details entered

Trade placed

Trade monitored

Start with small amounts in your first trade to familiarize yourself with the process * Double-check your stop-loss and take-profit levels before confirming *

Fantastic job! You’ve completed your first trade — an essential step toward mastering the trading process.

Analyze the Trade Metrics

Analyze Trade Metrics

STEP 4

Learn how to review your trades and understand the key metrics that define performance, such as entry/exit points, profit/loss, and risk ratios.

Check List

Get Familiar with These Key Terms to Master Your Trading Journey

Entry Point: The price at which the trade was executed.

Exit Point: The price at which the trade was closed.

Profit/Loss: The financial outcome of the trade, shown as an amount or percentage.

Stop-Loss and Take-Profit Levels: Highlight if these were triggered.

Risk-Reward Ratio: Measure of potential risk versus potential reward.

Trade Duration: How long the trade was open.

Analyzing your trades is the first step toward improvement. Take time to reflect on your results and refine your approach for even better outcomes.

Pro Tips:

Keep a journal to track your trades and reflect on your performance * Look for patterns in your trades to refine your strategy *

Journal Your Experience

STEP 5

Reflection is key to growth. Use this step to document your trade, evaluate your strategy, and capture valuable insights to improve future performance.

Trade Duration: How long the trade was open.

Fill in your trading journal and receive a professionally formatted copy in your email !

Every great trader keeps a journal—this is where your growth begins!

You will be redirected to an external platform.

Watch this Step-by-Step Guide for Setting Up Your Demo Account on TradingView

(STEP 2)

Watch this Hands-On Guide for Placing Your 1st Trade on TradingView

(STEP 3)

Introduction

Today, you'll take a significant step in your journey by executing your first demo trade using an AI-driven strategy. This activity is designed to help you gain practical experience with trading platforms, configure a strategy that aligns with your goals, and understand the metrics that define a successful trade.

With guided steps and helpful resources, you'll confidently navigate the process of placing a trade, analyzing its outcome, and reflecting on your experience. Let’s get started and see your AI strategy in action!

Trading Platform Comparison Table

Feature

Cryptohopper Demo

Binance Demo

TradingView Paper Trading

Ease of Use

High - Beginner-friendly interface

Moderate - Designed for experienced users

High - Intuitive and clean interface

Advanced - Includes AI strategy configuration

Basic - No advanced AI tools

None - Focused on manual trading

AI Tools

Asset Collection

Moderate - Supports major crypto pairs

Extensive - Wide range of crypto assets

Extensive - Covers crypto, stocks, and forex

Extensive - Allows custom strategy creation

Limited - Basic trading options only

Extensive - Highly customizable charts

Customization Options

Analytics & Reporting

Comprehensive - Detailed trade insights

Moderate - Standard reporting tools

Advanced - Detailed technical analysis tools

Choosing Your Platform

CHOOSE YOUR PLATFORM

STEP 1

Start by selecting a demo trading platform to practice with. Here are some recommendations to help you get started:​

​​​TradingView Paper Trading

​Binance Demo

​​​Cryptohopper Demo​

​​​Binance Demo​

TradingView Demo​

​​​Cryptohopper Demo

​​User-friendly platform with AI-driven strategy configurations.

Popular for its comprehensive tools and large selection of assets.

Ideal for testing strategies without real capital.

​​Note: By clicking the links above, you will be redirected to an external platform. Ensure you follow their guidelines to set up your account safely.

Trading Journal

Profit Automation

Start by selecting a demo trading platform to practice with.
Here are some recommendations to help you get started:

TradingView Paper Trading

Binance
Demo

Cryptohopper Demo

Binance Demo

TradingView Demo

Cryptohopper Demo

User-friendly platform with AI-driven strategy configurations.

Note: By clicking the links above, you will be redirected to an external platform. Ensure you follow their guidelines to set up your account safely.