A friend of mine is a collector by profession and speculates in futures part-time. Because of him, I got a little understanding of futures for the first time. Every time I see him, he always tells impassioned stories about huge profits. He believes that he will make a fortune in the near future and achieve financial freedom. He said that men must have dreams, have courage, and dare to fight.

However, in 2016, he suffered serious losses in futures. He lost all his deposits of about 800,000 yuan during his ten years of work. In addition, he also owed hundreds of thousands in debt. He called me, his voice was a little low, and he said, "Brother, can you lend me some money? I lost money trading in futures, and now it's difficult to eat." ?My friend is also a relatively upright person, and our relationship has been good over the years. I transferred 20,000 yuan to him and told him that if you are really in difficulty, you don’t have to pay it back. It will be treated as the wedding money I gave you in advance. However, you should be more rational when making your own investments. The futures market is like a river and lake. Where there are rivers and lakes, there are stories. Perhaps many times, we will hear some people bragging about those masters who have doubled their fortunes thousands of times and made countless billions. There are many unrealistic dreams in the futures market. When we return to reality, we will find that few of the futures traders around us can actually make money. There are very few masters who can "survive" in the end. After all, in this field, except for top masters such as Buffett and Simons, most people are losing money.

In the next year or two, in order to pay off debts, he sold his car and worked from dawn to dusk every day. During the day, he squeezed the bus, gnawed on steamed buns, ate noodles, and smoked cheap cigarettes. At night, he squatted in front of the computer, constantly cheering himself up, absorbing "spiritual nutrients", and numbing himself, thinking that all suffering was Eventually it will pass, and he will usher in the dawn. At work, he is still very down-to-earth and hardworking, and his performance is very good. He has paid off all his debts in two or three years. Just when I thought he could relax, I received a call from him again. He said that he was going to cut off his meat and had lost hundreds of thousands again. He asked me if I had any money and could lend him some money. This time, instead of transferring money to him directly, I asked him out to have two glasses of wine together. He drank a little too much and seemed drunk. I suggested to him not to speculate in futures. But he said that he once made hundreds of thousands in one night by speculating in futures. If a person only relies on working part-time in his life, when will he find a way out? I didn't say anything, but I knew that after working for more than ten years, he had almost no savings, no real estate purchased, and hundreds of thousands of debts. Isn't it obvious whether he was losing money or making a profit? In this treacherous and changeable futures market, he paid the tuition fee once and it was not enough, so he continued to pay the tuition fee a second time. In the next few years, he will probably go back to the days when he worked hard to pay off debts. Occasionally, I feel sad when I see him approaching 40 years old, who has not yet started a family and is still paying off debts.

There is endless money in this world, but the money in our hands will eventually be lost. Futures are risky, so investment needs to be prudent. Under heavy positions, be careful of dangers. In life, we must learn to stop losses in time. Sometimes a good exit strategy may be better than our arrogant attack.