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1.
Essentially dicking about, or wasting. Doing nothing in paticular, wasting many hours in the day sleeping, smoking pot, or doing things that are of no use at all.
Dan:"Mate, I haven't done anything all day...Woke up at 4pm and had a joint...Then watched Jeremy Kyle on day-time TV."

Ollie: "You are such a Richard. Stop richarding and do something useful."
by Elton Dan July 10, 2011
 
2.
Partying many nights in a row at the same venue, i.e. going to a well-known routine place to party where most of one's friends will be, getting continuously wasted and doing it over and over.
-Dude what are you up to tonight?
-richarding, dog.
-oh yup, me too, see you there.
by bobface416 July 04, 2010