Ep. 1319: Richard Weissman Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 730 Ratings
🗓️ 30 December 2024
⏱️ 41 minutes
🧾️ Download transcript
Summary
My guest today is Richard Weissman, a foremost authority and thought leader in the fields of derivatives, risk management and technical analysis. Richard has nearly 40 years experience as a trader and risk manager and serves as CRO and head of systems development for The Tape Reader LLC.
The topic is his book Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House.
In this episode of Trend Following Radio we discuss:
- Trading strategies
- Risk management
- Casino paradigm in trading
- Diversification
- Trend following nuances
- Volatility and liquidity
Jump in!
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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
Click on a timestamp to play from that location
| 0:00.0 | My guest today is Richard Weissman. |
| 0:02.0 | Richard is a repeat guest from a long time ago, which is my mistake. |
| 0:08.0 | Richard is an author. |
| 0:09.3 | He is a trader. |
| 0:10.8 | His book, trade like a casino, find your edge, manage risk, and win like the house. |
| 0:17.1 | It's been out for a while, but it's a great read. |
| 0:19.0 | You should check it out. |
| 0:21.0 | And from a trading perspective, Richard has the trend following insights. |
| 0:25.0 | So therefore, I want to talk to people like that. |
| 0:28.7 | Without any further delay from me, let's jump right into my guest today. |
| 0:32.1 | Richard Weissman. |
| 0:33.2 | I hope you enjoy. |
| 0:48.3 | Music I hope you enjoy. I want to bring up something about trading in general. |
| 0:52.3 | A lot of people want to get in debates about the technique, perhaps the |
| 0:56.2 | entry-exit technique. But look, when it comes down to traders regardless of strategy, and you |
| 1:00.5 | and I have some common beliefs about strategy, but when it comes down to strategy, there are |
| 1:04.6 | some basics that everyone has to start it, whether it comes to risk management, stop issues. |
| 1:10.4 | And I know that's been near or dear to you over the years, |
| 1:12.6 | the common characteristics that traders have to deal with, |
| 1:16.7 | regardless of the technique they say they're going to employ. |
| 1:19.8 | That is the inspiration behind the body of my second book, |
| 1:25.6 | Like a Casino, is the Casino paradigm. |
... |
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