Demo Accounts Verse 'Real' Accounts

[daydreamer65]

I’ve been reading a few posts here and, on a few occasions, people have mentioned that demo trading only gets you ‘so far’.

My question is, why is that? Do demo accounts not accurately model the costs/fees/lag times that real accounts have to pay. Or is it strictly a reference to the psychological differences between risking nothing and risking real money?

Because of the psychological differences which are incurred due to risking ones
own money people tend to start to invent reasons why they are now losing which
can manifest itself as slippage, stop hunting, lag, etc.