Your setup does mimic that of a production web server hosting multiple domains, so it is correct if that is your goal.
As for accessing those (virtual) domains, normally that would be via separate DNS records (either directly through A Records or indirectly via CNAME Records) for each domain. The web server would use the URL from the web browser to determine which domain/site is being accessed and then steer the web exchange accordingly.
In your case, for testing, you can manually "fake" the DNS aspects via the local HOSTS file of the client machine running the web browser with the multiple host combinations referring back to your web server. That will allow the URLs entered on the web browser to resolve correctly back to your web server where the URL can then be read by the server to steer the web exchange to the correct site - http://mytestdomain1.com vs. http://mytestdomain2.net, etc., etc...