please dont go negative mind , i have never seen at any guy who got expensive knowledge by demo account .
When you're trading on demo, your actions have no real consequences. A demo loss isn't nice but it doesn't hurt like losing real money. When becoming a better trader, you need to feel the consequences of your actions and you have to take full responsibility for your mistakes if you want to grow.
Demo is really a good thing to learn the concepts. If anyone doing demo righyt now then make trades by applying stop losses and set target and apply TPs on that. This helps you in making a habit.
can you please make sure how much knowledge you gained by doing demo trading ? its my curious , nothing without it.
Demo trading is good for only one thing. Learning how your trading platform works. It lets you hit the wrong button at the wrong time so you can see the mistakes you might make when interacting with your trading software on live real account. That's it, that's all there is. The idea of a demo backtest is problematic, because you are trading the past. When you go live you will be trading the present and the future, not the past. Start small in live, and scale up as you get better in identifying entries and exits. That's the holy grail. And you will find that only in real money accounts.
A forex demo account allows traders to mimic a live trading setting without putting any real money at risk. As such, it would also allows you to begin free online trading almost instantly, so you could nurture your trading skills before risking real money.
What I believe is, everyone should practice on demo accounts in initial days of trading, also when you make a new strategy it would be preferable if you test it first on demo in order to avoid risks in live trading.