Before we get into details, let us learn why demo account is important. One may say that it is not that important if you have the knowledge related to trading. And then, another may say that it is waste of time whereas some others may assume that it doesn’t help traders. But despite all these ideas and views, demo trading is the very first step to your trading journey. If you think you can directly trade live account without trading the demo account, it is one of the insane thoughts. The moment you enter the live trading environment you will feel foreign. You will struggle and lose the hard earned money, but this wouldn’t happen if you have practiced trading on a demo account.

Most new traders think the time spent on the demo account is waste but it is not. If you ask Singaporean traders, who are well-versed in trading, he would say the importance of demo trading. For example, you would have to face an exam tomorrow but then, you haven’t studied anything. You haven’t practiced any of the questions. But still, you must face the exam tomorrow, what will you do? Of course, you will face the exam but will you get through it? Would you even know what to write on the exam? So this is what happens in trading when the trader doesn’t use the demo account. He becomes helpless in the real trading world.

Practice makes a man perfect. You have to start trading the market with the demo accounts since it is the best way to learn from your mistake. If you trade with your real money you will never be able to cope up with the loss at the initial stage. Due to this reason, you need to trade this market with the virtual dollar. Things are not all complex even though the majority of the traders are losing money. You have to trade the market with proper discipline and focus on the latest news update. Try to craft a simple strategy based on price action since it will help you to execute high-quality trades at the key levels of the market.

Every step is part of learning

You don’t demo trade for fun or enjoyment rather it is for the experience. You must demo trade for practice. If you don’t demo trade you wouldn’t understand the market when you live trade. The live trading journey will be pretty hard for a person who doesn’t demo trade. If you are one of those traders who think that live trading would be easy just because of the fancy ads on the internet, you are on the wrong track. You must understand that demo trading account isn’t simple like you assume. It is one of the important aspects of trading. It is the process of learning from A to Z in trading. You will become a better trader if you have the complete understanding on the demo account.

Every trader pass this stage

You shouldn’t assume that demo trading is only for beginners because it is not. Even the professional traders trade the demo account when the need arises. They know the benefits in trading the demo account. For example, if they are trying any new strategy they cannot directly use it on their live trading account. If that new strategy isn’t profitable it will be a great loss, so they try it out on their demo account. Basically, every trader should pass this stage.

Every success story holds a history

Even the success stories of Singaporean traders hold a history. In a professional trader’s success story, it is obvious for you to witness the part of demo trading. They would have a lot to say about demo trading because it helps a trader to learn the best way of trading. There are no success stories without the touch of demo trading.