A lot of people will shit on you for doing it, and a lot of it is accurate. It's still possible. A close family friend makes a lot more bank than most people here by trading options (it's almost impossible with stocks just FYI). That said, our family makes much more than her on entrepreneurship. I'm predominantly in paper, and have been for a few years and have been doing pretty well. The transition to cash has been going smoothly, however. I'm pretty sure that a dude on here makes his living off of the market, and I know another did.
Be prepared to read a lot. Learn as much as you can about stocks and the market in general. A few important links, though:http://www.youtube.com/watch?v=CIbkYcJqAFk
^Watch all 23 parts. Trade management is where money is made or lost. People who can't do it are the reason that everyone is convinced that you can't win in the market. They just don't know what they're doing. It covers just the basics, but it's enough to give you some idea.http://masteroptions.com/?cat=3
^What is an option worth is a great, easy to understand, and most importantly, functional explanation of IV. Understanding IV can make or break you with options. IV is actually one of the few arbitrage opportunities available to the retail investor, but that's a much more advanced topic.
Look at investopedia, and read, read, read, read, read. Get yourself a Think or Swim account and trade paper money. Look for blogs on stocks and look at the mistakes other people made. Record EVERY DETAIL of your theoretical trades so that you can learn from your mistakes. Don't bother with technical indicators beyond the MACD and SMA. Neither one is magic, just a quick summary of the info on a chart, which is convenient when your eyes might miss something.
I seriously can't stress enough how much bullshit technical indicators are. The market is super goddamn fucking efficient. You'll learn that the hard way if you try to outsmart guys from MIT with PhDs in math. You make money in the market by not losing money when your educated guess
is wrong, not with a half baked financial modeling system.
Read up on human psychology. You're going to be your worst enemy when it comes to trading. Outsmarting yourself, analysis paralysis, biases, etc.
Also, day trading is not the way to go. You probably shouldn't be making more than 10-20 trades a week tops. Fees will eat you, and you won't be able to get to know stocks or industries.
Good luck. READ EVERYTHING. Also, watch the damn videos again. And again.