Most traders don’t learn to trade before putting money at risk, which is truly unfortunate. This is because there are so many things to learn before becoming profitable that mitigating risk will be crucial. I know it sounds a bit cliché, but how can you expect to be profitable with real money, if you can’t be with fake money? The demo account, or simulated account, is one of the best ways to learn about the mechanics of the Forex markets, and to test out new systems. Unfortunately, most traders feel that demo trading is essentially a waste of time. I could not agree less, as demo trading gives you the opportunity to make mistakes without risking your money. Trading is hard enough as it is but trying to learn while throwing in extra emotions to the mix certainly isn’t going to help. The great thing about demo accounts is that most brokers will offer them, and you can keep them congruent to your live trading account.