Michael Covel speaks with trader and author Larry Williams. Williams has been in the trading game for over four decades. Covel and Williams discuss the IRS and Congress; targeting of individuals and groups by the government; facing the government in a court case and negotiating with the IRS; how Williams approached trading at the beginning, and his motivations to do so; how growing up in Montana affected Williams personally; how Williams came to run for Senate and his reasoning for doing so; the importance of speculation, and the difference between speculation and gambling; how Williams made the migration from stocks to thinking about futures; how Williams approached the emotional and money management sides of the equation; risk control; understanding what kind of system “fits” you best; the changing condition of markets; keeping it simple; the importance of learning from injury; and how Williams came to his Libertarian mindset. Larry Williams has a legendary name within trading circles. His grounded & calm reasoning will provide new traders confidence, and experienced traders those needed reminders.