Why do most participants in Futures Trading ultimately incur losses? The core of this issue lies in the lack of a systematic trading strategy. Let's delve into this problem.

First of all, many traders fall into the trap of short-term gains. While they may occasionally have impressive profits, in the long run, the overall cash flow tends to be negative. This is mainly because they close their positions too early when they are in profit, while they are reluctant to cut losses in a timely manner when they are in the red. This imbalance in risk management ultimately leads to small wins and large losses.

Secondly, emotional trading is another common issue. When faced with losses, some traders take risks by opening reverse positions, hoping to quickly recover their losses. Alternatively, when facing floating losses, they continuously increase their positions in the hope of averaging down their costs. These behaviors often stem from emotional reactions to the market rather than rational analysis.

Finally, the lack of a clear trading system is a key factor leading to failure. Many people trade solely based on intuition or 'feelings', which is unsustainable in the long run. Truly successful traders rely on a complete trading system that includes strict position management, clear entry and exit rules, reasonable profit and loss ratio control, and stable risk management strategies.

Overall, achieving consistent profits in Futures Trading does not rely on luck or occasional large gains, but rather requires the establishment and strict implementation of a logically clear and disciplined trading system. This includes key factors such as how to effectively control position sizes, how to set reasonable stop-losses, and how to determine the best timing for opening positions. Only through a systematic approach can one achieve long-term success in this challenging market.