It is said that it is within 5%. Most of them are victims of a certain stage of the market. A small number of victims will join the ranks of 5%, and quite a few people will always be victims. Futures is a bridge between heaven and region. If you are smart and can study hard, then futures are cash machines, and the winners can look down on the world-a lot of money will flow into personal accounts with a light finger. If you are not smart, diligent and smart, you will be miserable-not only give all the money in your pocket to others, but also lose all your time and confidence. The great risk of futures comes from the fact that it is often affected by some unexpected events or news, and from its margin leverage effect. However, the irregular development of the early China futures market further increased the risk of futures trading. An irregular market may be a paradise for market makers, but it may be hell for small and medium-sized speculators, because the market at that time was a game between the main institutions and small and medium-sized speculators with funds. Like other small and medium-sized speculators, the author's repeated failures are not entirely based on his own reasons, because the market environment is a trap, which to some extent determines the outcome of the failure of small and medium-sized speculators at that time. The institutional failure of high fees, low transparency, no market monitoring, collusion between institutions and exchanges, and retail investors and institutions standing on the same starting line determines the fate of retail investors. The human nature of retail investors entering the market without learning or gambling. These soft wounds determine the fate of retail investors. This is the biggest secret of the industry. No one said, for fear that no one would come. China futures market is a collective liar. Retail investors come in, and they are basically dead.