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Trader Faculty

A structured trading curriculum across stocks,
forex, crypto, futures and commodities.

Trader Faculty is an education publisher. We do not hold client funds, execute trades, or act as a broker.

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Courses

  • 01What is Trading?
  • 02Trading 101
  • 03Risk & Money Management
  • 04Setting Up Your Trading Setup
  • 05TA Masterclass
  • 06Fundamental Analysis for Traders
  • 07Trader Mindset
  • 08Build Your Trading System

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  • Trading Foundations
  • Technical Analysis
  • Risk Management
  • Mindset & Psychology
  • Strategies & Systems
  • Tools & Platforms
  • Fundamental Analysis

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Home>Courses>Setting Up Your Trading Setup>Lesson 6 of 8

Practice with a demo account

Trade real market conditions with virtual money. The safest way to learn.

Setting Up Your Trading Setup·Lesson 6 of 8

All lessons

By the end of this lesson you'll be able to:

  • 01Explain what a demo account is
  • 02Describe what to practice on a demo
  • 03Know when to move to live trading
1

Step 1 · Read the guide

Read the guide first

Everything the quiz asks is covered in the linked guide. Read it, then answer the questions below.

What Is a Demo Account? Paper Trading Basics Explained
Key terms
Demo AccountPaper TradingTrading Account

Step 2 · Take the quiz

Quick check

10 questions

Answer all 10, then check. Wrong answers show a hint and a link back to the guide.

  1. Question 01

    What does a demo account use?

  2. Question 02

    A demo account behaves like a real account except in what way?

  3. Question 03

    What is a demo account best used for?

  4. Question 04

    What is the key difference between demo and live trading?

  5. Question 05

    What is a common mistake on a demo account?

  6. Question 06

    You are very profitable on demo but lose on live. What is the most likely reason?

  7. Question 07

    To make demo practice transfer to live trading, what should you do?

  8. Question 08

    When should you move from a demo to live trading?

  9. Question 09

    You have followed your plan calmly on demo for weeks with steady results. What are you?

  10. Question 10

    When you first switch to live trading, what should you do?

Answered 0 of 10 · pass 70% (7/10) to complete

Setting Up Your Trading Setup6 of 8
  1. Choosing a trading platform
  2. How to choose a broker
  3. Broker types: ECN and more
  4. Getting started with MetaTrader
  5. Using TradingView
  6. →Practice with a demo account
  7. Platform order types (OCO, FOK)
  8. Opening a trading account
  9. ⚑Final Assessment· 20 Q