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My guest today is Courtney Smith, a trader, author, money manager, educator, and speaker. Smith has been trading for forty-plus years. He\'s written seven books and is a frequent commentator on television.

The topic is trading.

In this episode of Trend Following Radio we discuss:

• Smith\'s start, and his experiences with trend trading and Richard Donchian\'s systems (and the experience of testing these systems on computers in the mid-70s)
• Today\'s climate for trading, and how it compares to what times felt like in the 1970\'s
• The psychological components to trading systems
• The importance of speculators (and why they\'re often unfairly put in the position as a political whipping-boy)
• "Hope" in the marketplace
• Drawdowns
• How "markets are markets"
• High frequency trading
• The informational value of studying track records
• The idea of being "flat" in the market
• The importance of ignoring television
• Trading methods that should be avoided

Jump in!

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I\\u2019m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I\\u2019m 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\\u2019d like to give you a great piece of advice you can use in your life and trading journey\\u2026 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\\u2019t 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
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Hope you enjoy my never-ending podcast conversation!