A good question is where to find brokers where difference between demo and live accounts is insignificant. We all know that demo accounts are easier to trade and its because of instant execution which prevents us from feeling pain from live market conditions like slippage.
First work on getting small gains and controlling losses. Using a tight Stop Loss is not necessarily the way to do that. Set yourself the goal of ending in the black every day.
Not really that. The only goal is to learn how to operate the platform and develop a strategy without risks.
And how do we do that dude? Any concrete advice or maybe I have to "set the right goals and learn to manage emotions properly"?
Demo is used for testing new strategies and learning before going live. So, you should do the same things you are going to do live.
For practice!even after years of experience you should use a demo account for testing your strategies. Many experienced traders do that. The importance of a demo account is far more than just practicing.
I use demo for backtesting sometimes but well it gives very rough impression of live performance because transaction costs and execution lags. Sometimes it can be very misleading so we have to use demo with caution.
Right we use demo for many reasons of learning so it is always having its important. But now a days demo account is having limited life so we have to create it every 6 month.