Paper money is good option to test strategy in real time… lots of experienced traders using paper money to test their strategies live before load cash into the strategy… 
Thats right big difference especially in behavior 
Demo vs Live is completely different, although it shouldn’t be - sadly psychology takes over with a live account (concerns about being wrong and losing ‘real’ money), whereas on demo you don’t have the same psychological battle as essentially it’s ‘free’ money.
The best thing I did, I moved to a small (£200) real trading account, keeping my risk management in check, and it allowed me to adapt to the psychological element which you don’t experience in a demo.
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thats good disicion to trade small money
Definitely, I think it’s how people should begin/learn - also change your psychology when trading a small real money account, rather than taking ‘losses’, you’re learning lessons - and in reality for a very small price.
Imagine the knowledge you could gain from £200 in losses, compared to buying that gurus course from instagram 
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Most important for begginers to understand how mkts works and not try to make lots of % 
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I think the major difference between demo and the live account is that in a demo account you are not investing your emotions since you are trading with virtual money so your mind does not get equipped to deal with the psychological pressure
I think demo or real dont make any sense untill u will not understand how mkt works
Well, you have a point. It is very important to understand the market trend in order to plan and execute your trading strategy
When you trade using a demo account, you will make a lot of profits. But that is not possible when you go live.
You can’t practice psychology on demo. You will take all the trade on demo and not doing that on live. Also, you will hold your trade on the demo, meanwhile, on live, you sometimes can close it earlier. So I think the demo is only for the strategy. If you want to practice your psychology, it’s better to practice it on a live account with a small amount of money.
Trading on real money without good trading system is the way to loose them and way to broke ur soul and put ur body into a stress… Trading Demo account is not about make money is about understaning mkt mechanics…
Most important in trading is:
- Discipline
- Trading system or strategy that really works
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You get profits in demo account and losses in live acccounts (xd)
Undoubtedly, demo account is supposed to be the exact replica of live account but I feel that demo account does not chalange any psychological decisions that we take in the live account. This can be a major driving force for putting the trades.
Make a list of your requirements and accordingly select a broker. It’s always better to open a demo account with any broker when you are a beginner it will give you a glimpse of the spreads and trade execution. After that you can create a live account
The problem with me has been the opposite, not closing my position soon enough hoping for the price to reverse in my favour.
I think demo account results can be duplicated if one very strictly adheres to their trading plan.
Despite doing that I couldn’t reach the profits I was getting on demo. Spreads are too rosy on demo but not so in real. It’s like how everything in life is. The virtual reality is always better and when it comes to real life, it sucks!
I think you need to re-read what I wrote again. Of course, trading on real money need a good trading system, which can be practiced through a demo, what can’t be practiced through a demo is psychology.
And where is your SL? You need to know where you will exit the position, for example if the pattern is invalid after touching this area. Or by time, for example you will exit the trade after several days of trading or whatever you want. And it must be determined before you entry your trade. And let your SL do the job. Never trade based on hope. Accept if you’re right or wrong, then improve it.