Yes it is possible. But it requires time and hard work. lots of time and lots of hard work. You could get there after 1 or 2 years, but don't be surprised if it takes you 5 or 10 years. And there is a majority chance you will never make it.
Don't do it the markets have become more competitive with machines. A lot of momentum strategies have very low sharpe and you need to lose many times before hitting 1 big win. Don't be fooled by the 30k pnl you see... You need to bleed like crazy every time you don't hit the strike.
That is the ideal. There is the problem of needing the time and experience to immerse yourself into trading so you can develop that process/plan. But if you never go full time you don't get that immersion and experience. If you are lucky you could gain that experience from trading while at work, if you have a slow undemanding desk job. I once had an 18 month IT contract where we did very little all day due the project getting outsourced. But most people have to work hard in the day job and don't have the time.
Keep your day job, it is easy to make money BUT extremely difficult to keep it. Most will say you need less to live and trade on, but until you accumulate at least $500,000, you be getting any kind of job to survive. Half million dollars should prove to self you can do it on part time basis even if it takes years. It takes years to memorize chart patterns and know them as your heart beats without your knowledge of it doing so. To know a chart pattern is coming up before it happens, your brain is constantly watching and reassessing, takes time. Big traders will be faster and automated and you have to compete against them.
It doesn't matter if you try and try and try again, and fail. It does matter if you try and fail, and fail to try again. Charles Kettering Fall down seven, get up eight. Japanese Proverb I have a friend who is a hospice counselor, he recently told me that at the time of death most people's biggest regret is not have gone for it (whatever the 'it' was). As others have inferred assign a certain amount of risk capital that if lost wont have you homeless and then just go for it. No need to ask anyone on an internet forum. You'll know pretty soon if you or your method is failing. You can always go back to the safety net of being a worker bee.
why do u care who did what? you made a decision - follow through with it you afraid of failing - stay where you are... i remember Barbra Streisand told a story once on TV that a doughtier of here friends came to her for the advice: She loved singing so much and wanted Barbara to advice her if she should go into that career. No, said Barbara, - stay where you are , those who know they want to sing - they go and sing, they do not come to anyone for the advice, whether its possible to succeed or not.
As many said - try it, fell and get up, learn and get up. "I'd does not matter how many times you will fell done, but it's matter how many times you get up and what did you learned:. Italian proverb. While I agree with statement here You maybe genuily need really to see some day trader. Iam so, as well many here on ET. When we started in 2009 we even travelled to Pasadena on TradersExpo to see real traders and be in touch. We had a gift of neigbourn, so you maybe simply in the same situation. While Barbara Stersend harsh statement us true for singer, it is not true for trading. Trading still be unknown and the crowd will discourage you, will applause when you fell. The nine to five people will hate you. So stay on ET, stay with your dream and pur in hard work and devotion. Follow beautiful words by Baron and They, keep in mind the advise by Handle 123 and have a happy trading, one day soon!
If I had $ 500,000 I would not need to do daytrading, daytrading for people who do not have much money. With having money to be able to operate 3 futures is enough to be able to grow the account