For many traders and investors, the currency market is an exciting option for making money with very little startup capital. Unfortunately, the excitement often causes new traders to start trading the forex market with little preparation. However, many currency traders find that they do much better when they practice using demo accounts and a forex trading simulator.
As they say, practice makes perfect and it is no different where trading currencies is concerned. Even after you have develop a good trading strategy, and proven that it works by back-testing it, occasionally you will need to make adjustments or just spend some practicing your trading; to do this you may need to open a demo account or buy a forex simulator.
Read more at Suite101: Necessary Forex Training Tools - Demo Accounts & Simulators http://currencies.suite101.com/article.cfm/necessary-forex-training-tools---demo-accounts--simulators#ixzz0o4p6Tr2U
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