when trading in a live account we trade with analysis , but in demo we trade at random and got nothing from there.
If you don’t have trading knowledge and starting at zero ground, then demo accounts are very helpful. After you get understanding of the trading environment and have built a trading system, then you can start live trading with a tiny amount.
There is no doubt that demo account trading is as important to strengthen the base of trading as much it is important to trade on the live account to make real profits. Traders should give sufficient time to demo before switching to the live account.
A good strategy is vital for trading, and what good way to test it other than in a demo account? So, imo, trade on a demo account until you have successfully built a strategy. Then, start live trading with a tiny capital in the live market.
In the demo, we trade with virtual money. Meanwhile, live trading helps us in bringing actual profits by trading our real money. Psychology plays an important role in live trading as traders make impulsive decisions due to fear of losing money.
there is no technical difference between demo and live , but when trading in demo and live lots of psychological difference we can see in practical.
It is best to start off one’s career as a trader on the demo account. Also take things slow rather than making reckless decisions.
You will never approach the demo in the same way as live account, you do not have the same pressure..
I practised on a demo account before trading on a live account. Directly opening a micro account is of no use if you don’t have a tested trading system.
Exactly, that's why i think traders should always move to a live account like a mini/cent account so that they can learn how it feels to trade with real money. Trading with fake money can makes trader take unnecessary risk cause there are no stakes involved and it can build very bad habbit.