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My guest today is Richard Weissman,\\xa0a professional trader with over 25 years of experience and an author. Weissman considers himself a "swing trader". He is one of the world\\u2019s foremost authorities and thought leaders in the fields of derivatives, risk management and technical analysis.

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:

• Weissman\'s path from how he started trading with his father in 1987 to how he made his way to where he is today
• Background to Weissman naming his book
• The influence of Jack Schwager\'s work
• Risk management
• Positive expectancy
• How Weissman defines trends and signs of strength
• The idea of "don\'t anticipate, just participate"
• Positive expectancy and the probability skew
• The connection between table limits and risk management
• How there are no truly "safe investments"
• Some tools that Weissman has used to influence his own trading psychology and smooth out the emotional highs and lows
• Not letting a high price stop you from buying, and not letting a low price stop you from selling
• Weissman\'s concept of "the opaque urn"
• The three things you can guarantee

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/

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