In forex you can gain experience without risking your own money! You can open demo accounts for free. These accounts have full capabilities of a real account and allow you to learn forex and test your strategies without any risk to your trading capital.

Demo trading should be taken very seriously as is not an optinal feature for the traders – it is a requirement if you want to succeed and learn without being burned. Demo trading should continue even after you start trading a life account.

Here is why demo trading is a must, how and when it will help you:

Learn forex trading
If you are new to forex you’d want to study as much as you can (you’re doing that right now); but just reading, watching screen shots and listening won’t really have the same effect as putting everything in practice — and this is where a demo trading account comes in.

Develop your trading strategy
During the learning period you’ll start putting things together and as you’re practicing in the demo account, things will get clearer and you will start (a must) developing your trading strategy. That includes your technical and fundamental indicators along with entry and exit rules and money management.

Update/add to your trading system
No matter your experience, anytime you want to use a new indicator or make any other change to your trading system including money management rules, you first run it through rigorous tests in your demo account until it proves that it’s a winning feature.

Confirm market conditions
You notice that the market is more volatile during a particular time during a day, week or month — while researching to find out the reason, trade in the demo account so you can analyze the patterns and or spread changes.

Changing the broker and/or trading platform
Anytime your broker releases un update for their trading platform, you must trade in the demo first– to understand the changes and also to make sure that all features old and new work properly if for whatever reason you decide to change your broker, you must test drive their platform in the demo account– in fact you must sign up for a demo account and test drive their platform long before you open a live account… no matter how many reasons there are that convinced you to move to them, if you don’t like their platform you shouldn’t. Please note that more than anything you have to be comfortable with the trading platform that your feature broker is using otherwise you will not be able to succeed

Please note that you should take demo trading very seriously. In fact you have to treat it as it was a live account. If you just throw trades there, you won’t prepare yourself for anything - you won’t do the same in live account– if you do the same, please study more until you understand what you’re doing.