Post mortem of Futures Trading specialists

gENTS,

It is the story of those who went into but never came out.
Where they went in? Into the futures markets.
With what they went in, not their money,but their trusted clients money.
And what happened, they lost their shirt,pant,underwear too.
And today what are they doing? research?yes.

This happened to my close friend.hE WAS ONE OF THE VICTIMS.
aS IT HAPPENS, people know using others funds but never talk or think of helping recovery.

There were 4 futures traders teaching technical analysis and staking claims that 5% a month or 10% of return in a month is just a left hand play.

But LOOK WHAT HAPPENED.

FEW CLIENTS GAVE THEM THEIR MONEY, Minimum was 5 laks.
These traders efficient and specialists in their trading world actually went out to loose money and there was no mention of recovery from loss.
First and second were chartered accountants of Bombay and lost all 100% of the capital given tio them. To mention few special events to show how active and careful these two were, one guy let about 3 lakhs ruppes of futures contracts expire worthless and simply dumped blame on his clients,the other most beautiful thing it seems thery never used stoploss in their trading.

The others one lost 50% and another lost 75% of the capital and scared to trade,ran away from the markets.
What is the most wonderful thing?

They never analysed or investigated their trading system or method though week after week,the losses kept mounting. And still they were of the thinking that they had the best system and best brains in the world.

Irresponsible traders dont take any value of their clients funds, if asked they start quoting thet trader lost this much and this trader lost so much. But they wont say, "I did it, it was a mistake, I accept my mistake and compensate sooner or later"

A weeks trading is enough to find if your system is dead or alive, If it continues to make losses all the time, it shows how foolish the guy who chooses to use it continuously,ignoring all the colossal loss of capital it produces.

So guys before you handover your funds to the control of a novice trader, that knows only surrendering to smart guys,think twice.
At least monitor closely,though it may not really help much.

Loosing money is the birthright of stupid traders and gaining back? no ,that is not part of their job. And they really cant make it except teach,argue,lecture-action in right direction? nO that is not their duty.

Look for sensible traders who would declare what happened without being asked.
A trader lazy and careless with himself can never help his clients.
Things do go wrong. But catching it at right time set things in correct mode
-is what matters. I met one trader, he had same experience and upon being asked to discuss, he said, " I made a mistaKE. i AM NOT GOING TO TALK MUCH TILL i SET THINGS RIGHT BACK WHERE THEY WERE-i HAVE LOST MY RIGHT TO LECTURE- I am working a plan-just reached the end of it-Let me finish it -please !!!!!!"

He said '"Put up and Shut up -Is my present mode-till I win my battle, AND RECOVER MY LOSSES".

I got astonished!
Where do those arrogant irresponsible guys belong and how come such a noble soul exists right here!
Oh God! At least you created one good human being who feels like a responsible trader and ready to concentrate on action, and action in right direction soon!


My question

Is futures trading so great that so many technical analysts bury themselves in big losses and find no way out?

It is so tragic,They forget all basic human ethics when it comes to money and turn totally selfish sherking all sense of responsibility for the huge losses they generated? mONEY CAN MAKE GUYS STOOP TO ANY LEVEL SO DOWN.


All this looks untrue and unbearable.
But it is true,
Please dont yourself, become a part this kind of tragedy.

ACT RIGHT WITH YOUR MONEY.

moral of the story:
dont hand over your hard earned money to specialists.
learn trading yourself and then trade.
its your money and whether you win or lose, you are responsible.

Best Option is to Learn ourselves.

Why dont people ASK about the Max Drawdown beforehand & Shut the case on that point.