Young Cal Trader has put it on the line - playing the Russell futures market - and the financial Blogosphere is seeing red. Poor Cal - he was successful in his first few trades and everyone is pretty sure he can't keep it up. Not just that but he "just isn't doing it right" and "besides he is risking ruin."
I say - go for it! Good grief folks he's a young guy putting 5 grand of his own cash on the line and taking a chance at learning something new. It's not like it would be the end of the world if he busts out. The college education he is currently pursuing will cost a lot more than that and there are no guarantees at the end of that rainbow either.
When I was a regular down at the race track an old guy said to me - "if you never reach into your pocket and put everything including your car fare home on a horse you really like you probably ain't doing it right." He was right - and I made a lot more doing it that way than from the dollar exacta boxes I was playing. And a couple of times I had to hitch hike home. But, damn, I had fun!