15 LESSON OF FOREX

LESSON #11:
DEMO Your Way to Forex Trading Success ...
or, How To Trade the FOREX for Free !

Hey, here's a tongue-in-cheek, rhetorical question for you:

WANT TO TRADE THE FOREX MARKET FOR FREE?

Who doesn't, right?

What if we told you can get your ambitious, ever-ready little hands on the same state-of-the-art software package that professional FOREX traders, throughout the world, are currently using to make real-time, LIVE currency trades?

What if we told you could experience the same dynamic market action and go through the same process of making decisions, based on breaking news, reacting to charting patterns, and tracking ones performance the same way full-time FOREX traders do?

And, what if, even if you don't put REAL MONEY into your account, you still really can't see any difference in how the market reacts to you and how you react to the market (well, okay, okay ... with imaginary money, we know ya just may be a tad more liberal with your trades, but we hope you aren't).

Okay, so here's the deal...

When we started writing this 20-part e-course, we realized these lessons could literally go on forever and, still, you won't know everything. At some point, every new FOREX trader needs to start DEMO-trading.

Once you begin to place demo trades, you will learn a lot about how Forex transactions are placed. This is an important step for you to be able to learn how to become a trader. A Demo Account allows one to become familiar with trading procedures, such as placing Market, Stop, Limit, OCO Orders without any risk. All dollar losses or gains on a Demo Account are imaginary but, as mentioned above, the EXPERIENCE is not!

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SIDENOTE: Although racking up big gains in a DEMO account does not insure profits in live trading, those who are NOT successful trading on paper (DEMO account) rarely are successful when money is on the line. So, yes, just playing around and getting familiar with a demo account can be a great learning experience; however, you will not learn how to become a trader this way. You need to have a trading strategy, like the ones we teach at www.RapidForex.com ==========================================

Here's how to get started with your own demo account.

Go to http://www.marketiva.com/?gid=7261

There you can sign up for a free mini-demo account. A mini account is just like a real demo account, except the trade sizes are smaller. In a real account the smallest trade size is $100,000, in a mini account the smallest trade size is $10,000 (this can be done with a $50 margin, the power of leverage!).

There are several other places online to sign up for a free demo account, but we recommend FXCM, because they have the best overall reputation online. FXCM has built itself to the premier Forex trading platform. We don't get paid anything to endorse them, but they are currently the best.

Once you sign up for your mini-demo account, you will need to try out one of the trial charting packages. Any of these will do because they all have the necessary indicator tools that we teach you to use in our course packages. You can then set up your demo account and start drawing trendlines, marking support & resistance levels, monitoring moving averages, etc. This is a good way to get used to how orders are placed. Once you have a real trading system, you will already know how to place orders properly.

Everyone makes mistakes placing orders. You need to experiment in a demo account to make your mistakes without losing money.

At this point you have to make a decision about how fast you would like to learn how to become a trader. The truth is Rapidforex, that the longer you wait to get in on this market, the more potential money you are missing out on. You need to decide what time frame is right for you to begin trading.

You need to decide if:

1. You want to place real trades within the next 3 months (or sooner, depending on your desire)

2. You want to build your knowledge for several months before placing real trades.

The choice is entirely yours. No-one else can make that decision for you. You need to make a plan and stick to it. It is important not to put off your success. Success requires action.

If you want to place real trades within the next 3 months, you should check out www.RapidForex.com. There are some great resources there at extremely affordable prices that can get you trading in a very short amount of time.

If you want to build your knowledge base, then continue to be on the lookout for these daily email lessons. You are already subscribed to it, all you need to do is read each article attentively as they are released.