Ya hindsight is the best I wasn't trying to be a dick but the equity trend has been so robust and with the Fed telegraphing their intentions it seems like the worst market to try to short. Eventually it will revert but how do you time it when all past experiences are now off the table with a market that's being so strongly influenced by the CB's.
Does your wife work? How have you done prior to the last couple of year? I'm near your age with a stay at home mom for a wife and 3 kids. I have a career to pay the bills. I'm profitable but would need at least 3-4 times what I currently have in capital to try to support my family on just trading.
Good traders are adaptable. When the trend is up, they're long. When the trend is down, they're short. They only go mean-reversion when the market is reverting to the mean. If you don't know how to trade trends, then learn to stop trading when the market is trending. This is basic stuff. If you can't learn how to read the markets, the markets will take you to the cleaners.
No she doesn't work, she stays at home as well. If you don't have portfolio margin you'll get your boost once you reach that. Life is much easier if you can use leverage although it obviously goes both ways.
From the way you described your health,40 is not half way through life I am afraid, more like 2/3. Remember the average lifespan is just that, an average.
But he doesn't so all that matters is whether or not he's comfortable with the living retail trading provides.
Had another rough day today, getting close to killing my 2014 profits if we continue making new S&P highs. Living the dream !!