$ pip2 install virtualenv
Collecting virtualenv
  Using cached virtualenv-15.0.2-py2.py3-none-any.whl
Installing collected packages: virtualenv
Successfully installed virtualenv-15.0.2

$ virtualenv --no-site-packages .venv
New python executable in .venv/bin/python2.7
Also creating executable in .venv/bin/python
Installing setuptools, pip, wheel...done.

$ .venv/bin/pip install -r requirements.txt
Collecting django==1.4.2 (from -r requirements.txt (line 1))
Collecting pillow==3.2.0 (from -r requirements.txt (line 2))
Collecting django-tagging==0.3.6 (from -r requirements.txt (line 3))
Collecting django-registration==0.7 (from -r requirements.txt (line 4))
Collecting django-pagination==1.0.7 (from -r requirements.txt (line 5))
Collecting markdown==2.1.0 (from -r requirements.txt (line 6))
Installing collected packages: django, pillow, django-tagging, django-registration, django-pagination, markdown
Successfully installed django-1.4.2 django-pagination-1.0.7 django-registration-0.7 django-tagging-0.3.6 markdown-2.1.0 pillow-3.2.0

SITE_NAME = 'Luna'
ADMINS = ('Admin', 'admin@example.com')
# GOOGLE_ANALYTICS_KEY = 'UA-12345678-9'
ACCOUNT_ACTIVATION_DAYS = 7
EMAIL_USE_TLS = True
EMAIL_HOST = 'smtp.example.com'
EMAIL_HOST_USER = 'admin@example.com'
EMAIL_HOST_PASSWORD = 'password'
EMAIL_PORT = 587
TIME_ZONE = 'America/Los_Angeles'
LANGUAGE_CODE = 'en-us'

$ .venv/bin/python manage.py syncdb
Creating tables ...
Creating table auth_permission
Creating table auth_group_permissions
Creating table auth_group
Creating table auth_user_user_permissions
Creating table auth_user_groups
Creating table auth_user
Creating table django_content_type
Creating table django_session
Creating table django_site
Creating table django_admin_log
Creating table account_profile
Creating table forum_topic
Creating table forum_post
Creating table games_game
Creating table registration_registrationprofile
Creating table tagging_tag
Creating table tagging_taggeditem

You just installed Django's auth system, which means you don't have any superusers defined.
Would you like to create one now? (yes/no): yes
Username (leave blank to use 'exide'): admin
E-mail address: admin@example.com
Password:
Password (again):
Superuser created successfully.
Installing custom SQL ...
Installing indexes ...
Installed 0 object(s) from 0 fixture(s)

$ .venv/bin/python manage.py runserver
Validating models...

0 errors found
Django version 1.4.2, using settings 'Luna.settings'
Development server is running at http://127.0.0.1:8000/
Quit the server with CONTROL-C.