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My guest today is Nir Eyal, an Israeli-born American author, lecturer and investor known for his bestselling book, Hooked: How to Build Habit-Forming Products. He earned a B.A. at Emory University in 2001.[6] He then worked for Boston Consulting Group and a solar panel installation firm before attending Stanford for his MBA.

The topic is his book Indistractable: How to Control Your Attention and Choose Your Life.

In this episode of Trend Following Radio we discuss:

• Why distraction at work is a symptom of a dysfunctional company culture—and how to fix it.
• What really drives human behavior and why “time management is pain management.”
• Why your relationships (and your sex life) depend on you becoming indistractable.
• How to raise indistractable children in an increasingly distracting world.

Mentions & Resources:

• Nir Eyal
• @nireyal

Listen to this episode:

• Listen to this podcast on iTunes. (Please leave a rating!)
• Listen on Spotify.
• Listen on Stitcher.
• Libysn RSS.
• Download as MP3 by right-clicking here and choosing “save as.”
• Free Video.

Jump in!

Feedback in:

I have tried scalping, and I am not consistent at it. I had an automated scanner at one time, and the market changed, resulting in too many losses. I tried to change that scanner to remove automation, it was not consistent either. I am now trying to learn how to trade stocks up on news, but am not consistent yet, and many seem to be short plays. I am seeing if maybe options would be better suited for those stocks. I don’t short at the moment and have a small account due to previous poor risk management, of which I have greatly improved, but now I seem to be overly cautious at times. I have and am increasing my tape reading skills, along with pattern recognition, which has helped. Maybe I have found my niche, I just don’t know it yet. I have started collecting data from my trades to find what works and doesn’t work.

I want to find what works and have been at this over 3 years trying to find what works. Just when I think I am close to becoming consistent, it seems the market changes. I don’t know if it’s my scanner that has too many parameters or not the right parameters for what pattern I am looking for. I do have a huge fear of losing of which I am working to overcome. I am determined.

William

Scalping is like Vegas slots.

Trend following, my world, is not that.

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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Feedback in:

Mike, I’m not qualified to test you, but I’ll wholeheartedly agree to the view appeal to your spokesmodel(s)! My biggest challenge in the market was being able to guess which stock was going to split with [name]. You just save me $3,000.00, (by the testimonial speaking NO to hardware / software), via pitches of laptops and 4 monitors from Eddie Z. Thank you! Am trained as a telecom engineer and as a C – 130 B Hercules Flight Engineer… saying that to say that I’m used to planning the outbound, as well as return trip before putting ANY bird in the air. You’ll get no push back from me relating to making a trading plan and executing that plan. Have your Turtle Traders and just ordering Hite’s book on Amazon. Look forward to your coaching.

Dan S.

Thanks.

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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

What is your biggest challenge you have faced with your trading?

My biggest challenge have been to find my trading philosophy and a robust trading system. I have wandered between different methods of portfolio optimizations and then equity research/firm valuation. But none of these have resonated with me or given the performance or mirrored my own limited experience with trading on the market. Trend following is the first time, an approach reflects what I have experienced and seen on the market such as “Don’t miss the bounce, get out early etc”. I need a system with trading rules before hand. I read about the term empathy gap that explains it well: “The empathy gap is a cognitive bias that makes it difficult for people to account for the manner in which differences in mental states affect the way that they and other people make decisions.” I have experienced it. I know that I don’t think as clearly when the heat is on, the thinking needs to already have been done before.

Looking forward for what you have in store!

Start here.

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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Feedback in:

I would say my strategy is entering in low volatility/quiet moments and exit when the crowd gets lively. I heard a statistic that stocks (which is the only asset class I trade at this time) trend less than 20% of the time. I am not certain if this stat is true, but I feel more comfortable trading short terms ranges.

Although the S&P 500 has consolidated a few years before this breakout, I have heard MANY people calling Trend Following dead. Though they are just opinions with no evidence, I am starting to think that not everybody needs to follow a trend to make money with minimum stress. I have tried many times to let my profits run without a final target and have given away paper profits often for either a scratch or a 1 R loss. I am aware this is a personal problem as well, but I think I would like a slower equity curve with smaller profits but with a higher win rate.

That is a nice wish list strategy. Check back in a few years when you learn its not viable.

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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Scott Adams and Wise Advice About Not Staying in Your Lane with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

• Listen to this podcast on iTunes. (Please leave a rating!)
• Listen on Spotify.
• Listen on Stitcher.
• Libysn RSS.
• Download as MP3 by right-clicking here and choosing “save as.”
• Free Video.

Want to learn more Trend Following? Watch my video here.

Feedback in:

Hi Michael:

I just love listening to your podcast. You’re a joy to listen to, guests are great and I learn a lot.

I have been trading on and off for a couple of years and have not really made any profit with the trading coach I was with but what it helped me realise was trend following is where I feel most comfortable. That combined with reversals.

I’m coach mentioned once that he could not really live off what he makes trading that’s why he has a business. Ok. Truthful.

I have been thinking for a while about whether to buy your programme because I have spent a lot of trading but not really made anything.

I know you will because that’s what I like about you…the raw, no filters monologues.

Cheers

S.

One step at a time. Learn first, then decide how you will move forward. Telling someone something can’t be done? Not my deal. Read.

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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.