By Gaby Ndongo
Forex trading is a channel to success for blacks, said Vumile Giovanni a postgraduate student at UJ on Saturday May 6th during a Forex trading seminar.
“What can change the life of a black child is forex,” Giovanni told traders and potential traders at the University of Johannesburg Soweto Campus (UJSWC) before clarifying the importance of formal education.
Giovanni is the founder of Vumile MJ Investments which was founded in February 2017 as a source of empowerment to impart knowledge about the forex trading market to students and in particular black students.
About 70 people attended the free seminar hosted by Vumile MJ Investment which forms part of a monthly seminar series for the course of the year.
Giovanni further highlighted the advantages of Forex trading, the appropriate time to trade and the strategies of trading.
When talking about the advantages, he emphasised that the income one generates from Forex trading is not subject to any charges except for low transaction fees.
Regarding time, he stressed that there is a fifteen minute time frame for trading and that traders should be aware of the operational time of the country they desire to ‘buy’ or ‘sell’ currency from.
Concerning the strategies, a fundamental approach which is based on the analysis of the political and economic happenings of the day and the candle sticks, he said will do.
The audience’s reaction was that of a willingness to learn more about forex trading from Vumile.
Kagiso Motaung, a post-graduate student at UJ, ranked the seminar as one of the best. “I’m gonna buy the book and next week since they have a class, I’m definitely coming,” Motaung said.
Xolani Mthumba, a first year student at UJ, acknowledged that the seminar made him acquire knowledge which he did not have before. “I also think that I’ll gain more next week when I come for the class because this was just a seminar,” said Mthumba.