A demo trading account allows us to test new strategies and refine those already adopted without incurring commission fees for opening new positions or risking any actual funds.
Starting with a demo account is extremely important, yet many traders overlook it. Instead, they jump straight into real accounts, using their real money—funds they need for everyday expenses—which can create immense pressure. This can quickly become a nightmare if aspiring traders don’t approach it correctly.
Today, we’ll guide you through setting up a demo account to trade cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana, and many more. So, let’s get started!
Why Use a Demo Trading Account?
We already know that a demo account comes with numerous benefits. Some key advantages include:
- Familiarising yourself with trading platforms
- Understanding different order types
- Testing new strategies in a risk-free environment
Removing stress and pressure from the equation is important when learning to trade. We don’t want to expose our real accounts to financial gains or losses, so this demo trading stage is about gaining experience and understanding the process, not the results.
Eventually, you’ll gain the confidence to switch to a live account. However, before taking that step, here are a few things to remember.
Differences Between Demo and Live Trading Accounts
Trading on a real account exposes you to market realities that a demo account does not. Some key differences include:
- Execution speed
- Liquidity conditions
- Spread variations
Most demo accounts don’t accurately replicate these conditions, so keep that in mind when transitioning to live trading.
The Importance of Tracking Your Trades
Confidence in trading comes from data. Log your trades and build a solid statistical database. This will help you understand how well your strategy performs and its probabilities.
Setting Up a Free Demo Trading Account on ATAS
One of ATAS’s biggest advantages is that crypto traders can use it for free.
That’s right. ATAS is free for crypto users. This means you can access a high-calibre order flow platform at no cost. So, let’s begin now!
Create an ATAS account.
Register a new account on their website if you don’t have one yet.
Download the ATAS platform.
Currently, ATAS is only available for Windows users. If you are on a Mac, you can run ATAS using a program like Parallels. Check the system requirements before installation.
Run ATAS and Login.
Use the credentials sent to your email after registration. If you encounter any issues, contact ATAS support for assistance.
Connect your Demo Account.
In the ATAS Dashboard, go to the Connections section. Ensure Crypto SIM and Crypto Data are connected.
- Crypto SIM acts as your demo trading account.
- Crypto Data is the feed that allows us to trade with live market conditions.
Demo Account Funded. Your account will be automatically funded with $100.000. If anything goes wrong, you can reset it to its initial balance.
Select the right Trading Instrument or Ticker.
Click on Chart to open a new chart, and the Manage Instruments window will open. Currently, we can only practise with all cryptocurrencies available on Binance Futures. So, when selecting your trading pair, ensure you choose the correct market.
Use the Chart Trader.
Once your ticker is selected, Chart Trader will open. You can now execute long and short trades on your preferred cryptocurrency.
Free ATAS Install and Setup Course with Chart Champions
Learning to use a platform like ATAS may be challenging, but we’ve got you covered at Chart Champions! We have dedicated a learning module to ATAS, where you will also have an introduction to our exclusive templates.
What You Will Learn?
- ATAS Installation and account setup.
- Connecting your broker and data feed (for real accounts).
- Adding templates and snapshots in ATAS.
- Creating a workspace with Level 2 data and Smart Tape in ATAS.
- Introduction to: Order Flow Template, Sessions Template and Classic TPO template.
- Tips and tricks.
Check out our free course here:
Conclusion
ATAS is an incredible tool for order flow; fortunately, it is free for crypto users. If you plan to use this platform for futures or stock market trading, you will need a licence.
Learning to trade requires time, patience, and a structured process to build the confidence to transition to real trading. However, the journey begins when we set up our demo account and establish a solid foundation for practice and experience. Tools like ATAS play a crucial role in this journey.
Don’t wait any longer! Enjoy all our free content and master ATAS in the best way possible with Chart Champions!
See you inside!
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