Trading on an online Demo account could be considered a more modern form of paper trading. The old-fashioned paper trade involved recording imaginary inputs and outputs to see how the methodology is evolving in the market. Demo accounts allow you to do this on a computer simulator. A simulated trading environment that replicates real market values gives trader the opportunity to get used to the software he will use with his broker.
Trade as in a Real Account
Pretend the money is real if possible. Watch your emotions and how business affects you psychologically while you feel those emotions. Because demo capital provides no real losses or gains, it is a good training tool that can emotionally prepare you for what will happen when you start trading your real capital. One way to train your discipline and keep your emotions in check is to give a small reward for following a business plan (regardless of profit or loss) or deny yourself something you like if you don't follow your business plan.
Only the deposit of money separates you from reality
Demo trading has certain advantages because it can prepare you for unexpected situations that will arise in real trading and you will gain the necessary experience without jeopardizing your real capital, with which you want to trade. While it can be fun, if you really want to start valuing your finances, you need to move on to the next step, which will lead you to opening a Real Account.
If you don't have a Demo account yet, you can open one with WonderInterest Trading LTD in a few minutes.