There have been many articles written on hand signals for anchoring. Another good solution is walkie-talkies. They are inexpensive, and leave both hands free. At night or when conditions are perilous, they are a tremendous asset. When anchoring you should be able to communicate with the helms person without having to say a word.
Nothing is worse or distinguishes a novice more than yelling at the helms person while anchoring.
We now have our anchoring system sized properly for the boat, and now we have to set that anchor for the night. There is no doubt that the best entertainment for the fleet is watching the various boats and their anchoring techniques. The second is to drop the anchor, and back up too quickly without putting out sufficient scope. At that point secure the line if you're using nylon or connect a snubber if you're using chain. Put the engine in reverse, and slowly raise the rpm's from idle until you reach the rpm cruising speed you normally motor at.