The reasons why only a small percentage of traders who trade in the futures market are profitable. Here are some possible reasons:

1. *Lack of knowledge and experience*: Futures trading involves complex strategies and risk management techniques. Without proper education and experience, traders may make costly mistakes.

2. *Emotional decision-making*: Fear, greed, and euphoria can cloud judgment, leading to impulsive decisions that result in losses.

3. *Inadequate risk management*: Failure to set stop-loss orders, overleveraging, and insufficient capital can lead to significant losses.

4. *Market volatility*: Futures markets are highly volatile, and unexpected events can quickly turn profitable trades into losses.

5. *Overtrading*: Taking too many trades, or trading too frequently, can lead to losses due to commissions, slippage, and market fluctuations.

6. *Poor trading psychology*: A lack of discipline, patience, and mental toughness can hinder a trader's ability to stick to a strategy and adapt to changing market conditions.

7. *Inadequate trading plans*: Without a clear trading plan, including entry and exit criteria, risk management, and performance evaluation, traders may drift aimlessly and make impulsive decisions.

8. *Insufficient market analysis*: Failure to conduct thorough fundamental and technical analysis can lead to poor trading decisions.

9. *Lack of adaptability*: Markets are constantly changing, and traders who fail to adapt their strategies to new conditions may struggle to remain profitable.

10. *Commissions and fees*: High transaction costs can erode profits, making it difficult for traders to achieve long-term success.

It's important to note that these challenges can be overcome with proper education, training, and discipline. Successful traders typically possess a deep understanding of markets, risk management, and trading psychology, as well as the ability to adapt and evolve their strategies over time.