For something that is fairly easy to learn, trading for a living is incredibly hard. The reason is easily seen when studying the typical types of beginning traders. If you get two new traders you’ll usually get one who you have to force to make trades because they are terrified of losing money and one who enters into every trade they can find.
The timid trader usually has a healthy respect for money outside of the office and is very adept at managing a budget and living within their means. The aggressive trader is usually a big spender and will lose control of their budget when they have good days in the office.
The timid trader struggles to make a living in the office, they get frustrated and begin looking for a stable income with another position. The aggressive trader usually either blows out early or lives above their means until they blow out and are then forced to look for a stable income position.
It is a rare trader who begins in the sweet spot and is able to take risk in the office while living like he/she is poor. The best advice I got when beginning trading was pay for everything in cash and live like you will never make another dime. If you do well enough and build a nice capital base you can invest it in real estate or dividend stocks which can provide you some stable income.
And of course, do not attempt to trade full time if you are under pressure to make a monthly pay check to pay your bills. The pressure is incredibly high and so is the probability that you will have a moment of weakness and make a trade that ends your career before it even truly begins.
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