It's a bit more complicated than that! Lol!
To host your own game, you would first download TWGS (Tradewars Game Server) here:
http://www.eisonline.com/downloads/Download the one that says "TWGS220B.EXE"
Install it on your computer. The unregistered version is fully operational, but you can only have one game at a time on it, and only one person can login at a time. Registration costs vary, but the highest you'll pay is $100. This full registration price allows you to create up to twenty-five games and have up to one hundred people on at once (100 nodes.)
Practice with TWGS before you decide to register.
If you decide to register, the setup is "simple" in how it's done. But it's obviously not going to be simple to someone who's never done it. One thing at a time! Lol!