It doesn’t cost you a thing to get started learning how to trade the Forex. You need a computer and an Internet connection, which you already have or you wouldn’t be reading this right now. The faster the connection you have, the better, but you can function with dial-up.

The first thing you need to do is get a demo account up and running. Almost every Forex broker offers these. Some of them expire in 30 days and can be renewed as often as you like. But some of them don’t expire at all. These are preferable for learning and experimental purposes. Also, not all brokers use the same type of trading platform. But many brokers, probably the majority at this point, use a platform called MT4 which is absolutely superb. I recommend very highly that you start out with this. It provides a charting package of great sophistication and capability and real-time data from the Forex market and it is 100% free.

I am going to recommend that you open a free demo account with a broker called “North Finance” at this link:

www.northfinance.com

You don’t have to fill out any forms, the process takes just a few minutes, and once the platform is installed on your machine there is a registration process which takes a minute or two, and when you are finished, you have a functioning trading platform on your computer which will not expire. And your initial charts will look like this (click on the thumbnail):

 

 

Just so we are clear, I am in no way affiliated with this broker and obtain no benefit whatever from recommending it. I do so because I think it is a very good broker. The demo does not expire and there is no obligation whatsoever of any kind for you to open a live account with them at any time if you do not wish to do so. The platform comes in many languages, has a wonderful array of currency-pairs available and a few additional equities. This broker is registered in Belize and has its main offices on Cyprus and caters to a world-wide audience of traders. Go to the website, look around, and I think you will be favorably impressed.

This charting platform is called “MT4” or “Metatrader” and we will be discussing the magic of MT4 in some detail in future articles. In my judgment, this charting package, plus the live real-time data feed, is worth at a minimum $200/month if it’s worth a dime and it is absolutely free to us and this is one of the things about the Forex market that I respect very highly. You can pay up to $200/month for data from companies that sell data and there are other charting packages also available for a fee that can range from $25-$50/month on up to several hundred dollars a month. But why on earth should you, particularly if you are a beginner and are just getting started learning the ropes?

So this is your first task. Get a demo account up and running on your computer and then we will begin to get familiar with it. This is your “ballpark,” your “arena.” It is identical in every way to a real account. This is your window into the wonderful world of Forex Trading. But I’ve warned you: We all take our lumps in the process. When we trade for real, we all take losses, we all make amateur mistakes. This is not a joke and it is not a game. It is serious business and if you take it lightly, you could get seriously financially hurt. As independent traders, we all face an enormous challenge: a lot of us lose consistently, far more of us than should. But it is an exciting and exhilarating challenge and you could become wealthy beyond your wildest dreams. A handful of people have attained that. It can be a life-changing experience…for good or bad.

So this is “Spring Training.” There is no obligation, no risk. Get your demo up and running, and, Good Lord willin’ and the crick don’ rise, as they say in Tennessee, we’ll pick up from here next week.