Over thirty individuals have gained foundational skills in trading the Forex market during a 2-day seminar organized by the ANC Trading Community from October 20 to 21, 2021, in Douala.
Organized in partnership with ANC Stock Investment and sponsored by FXPrimus, the 2-day event, dubbed “2 Days in the Forex Market,” drilled newbies on how to get into the $6 trillion financial markets.
Forex instructor, Ambe Nickson, delivered practical presentations on everything from fundamental and technical analysis techniques to trading support and resistance which are key profitable areas to trade, as well as the simple but crucial strategy of buying down (at support levels) and selling up (resistant levels).
He also focused on the different strategies used to forecast and analyze price direction and how to apply correct position sizing for the sake of proper risk management.
The training event also touched on cryptocurrency, as Ambe Nickson emphasized the importance of examining the project behind each cryptocurrency before investing in it. He also indicated that cryptocurrencies have a tendency to rise towards December, making it a good time for investment in digital coins.
The second day of the event focused on teaching participants how to carry out technical analysis on their charts to be able to identify the best entry and exit points in the market.
From a clear overview of the Forex market to the use of stop losses and take profits, participants could familiarize themselves with several techniques used in Forex trading, which were all demonstrated by Ambe Nickson by means of practical examples and live demonstrations.
Live trading
Day 2 of the event also featured a live trading demonstration on the ANC Trading Community’s live trading account, where Ambe Nickson together with the participants, traded the Forex market based on fundamental analysis (trading the news).
For one thing, it is a good practice to exit all trades when the news is about breaking as such fundamentals have the power to move the markets very fast and send trades into great losses.
While the news did little to shake up the market as was expected, it did, however, present a lucrative opportunity for most participants to make profits on their individual trading accountsーlive and demo. The live trading demonstration saw several traders walk out of the market with a few dollars in profit.
The live trading demonstration offered an opportunity for newbie traders to understand the market, see how professional traders open positions depending on current market conditions and hear from the experts the reasons behind their trading decisions. It was also an opportunity for traders to get their most pressing questions answered live throughout the trading demonstration.
The event was also an opportunity for the community to announce its upcoming trading competition. It presents an exciting opportunity for traders to learn and practice their trading skills in a risk-free trading environment while earning rewards.
While the exact date and details of the competition have not been made public yet, inside sources reveal it could happen anytime this year.
About the ANC Trading Community
The trading arm of ANC Stock Investment, the ANC Trading Community is a community of experienced traders in the financial market, equipped and ready to share their experience through one on one mentorship and lots of resources, providing market analysis and signals on a high probability winning trading strategy in the Forex, Crypto, and Commodity markets.
After recently launching in Buea, the community has already trained several newbie traders in becoming professional and profitable traders. True to its mission of making trading profitable for everyone, the two-day live trading program was an opportunity to build on this mission.
Follow this link to learn more about the ANC Trading Community or to become a member of a community that breeds profitable traders.
