Who are the losers in futures trading? We all know that there are winners in futures trading that consistently make good money. We also know that futures trading is a negative sum game when you consider trading costs. So while a couple people win the vast majority of people lose. I would imagine that the winners at futures trading are a small group of experienced traders and funds. So then who are the losers? Who is paying for the profits of the few that succeed? Retail traders? Hedgers? Someone else?