Welcome to Forex currency trading 101. The first thing that we should cover is that you must completely understand and believe that you can through proper training and application of that training be a successful Forex trader. The second thing for you to understand is that Forex trading does not need to be complicated in order to be profitable.

The very first question to ask yourself is why you want to trade Forex. The answer most beginners would give is “to make money, of course”. While saying that you want to trade Forex just to make money is definitely legitimate, try to think of what being a successful Forex trader would mean to you. Basically visualize how it will change your life and your level of flexibility. The more compelling the reasons you give for wanting to be a Forex trader the more reasons you give yourself to succeed.

While Forex trading holds the opportunity to generate large amounts of revenue it’s best to be prepared before you venture into Forex trading. Learning to trade Forex is one of the very best things you can do to immediately increase your chances of becoming a successful Forex trader. If you take a quick look at the most successful Forex traders in the business you’ll find that each and every one of them has paid their dues. They’ve taken the time to learn how to profitably trade Forex for the long-term.

A great way to learn the ins and outs of Forex trading is actually by opening a Forex demo account, also known as a Forex practice account. This type of Forex account contains no real funds and you do not need to make an actual deposit in order to start trading. A Forex demo account contains virtual funds which will allow you to see the effects of your trades in real time. This type of experience will prove invaluable for you. Not only does it give you an opportunity to eliminate mistakes in placing orders, but to see if your Forex trading strategies would actually have made money in a real Forex account.

Forex currency trading 101 is simply about getting your feet wet in seeing firsthand real Forex trades in action. At the same time you’re using your Forex demo account you are of course absorbing all the knowledge you can about trading Forex. This means that you can take any new knowledge you have acquired and experiment with new techniques in your demo account. This way you not only get a feel for the theoretical side of learning Forex trading, but also for the actual side by placing trades to see how things might have turned out.

So your very first step is to seek out good information about Forex trading while at the same time opening up a Forex practice account. If you type “Forex practice account” into your favorite search engine you’ll see that many different brokers will be available to you to offer you a free account. As an additional note you will find that by trading your Forex demo account as responsibly as you would your real account you’ll be better prepared to be successful in Forex trading in the future.