The planning for a trading session through the analyses of a profit or loss by trade journals are all aspects of the trading process that a beginner gets experience in. If traders have access to a demo account, they can practice trading using it for virtual money and not worry about the consequences of clicking the wrong buttons.Ultimately new strategies can also be made and then later can be implemented in real account trading.
a demo account is very important for beginners to practise their trading. When you feel confident then i would advise to switch to a live trading account.
Demo accounts, in my opinion, are important for beginners to gain comprehensive trading knowledge before trading real funds. You can analyze how to profit and avoid losses using a demo account.
in demo we can see the trading performance very rapidly , this approach will help us to avoid unfortunate risk and losses.
a demo account is also for backtesting new trading strategies before applying it to the real live account as well.
A demo account is essential for beginners to practise their trading. When you are confident, I recommend that you switch to a live trading account.
demo is the master place to bring good knowledge and experience but most of the beginners dont believe the importance of this place at all.
the success of any kind of trading strategies depends on your money management , otherwise any powerful trading approach will works to fail.