My 2 cents
I would love to hear the answer to this question as well. I see this is an older thread, but I just joined this forum today. Here is my 2 cents on the subject based on dabbling with day trading over the last 10 months. I made a number of mistakes and learned a little bit - I have much more to learn. But by (mostly) luck I have managed to make a small return. I am just dabbling right now with a small stake ($25,000). My annualized return at this point is 20% based on just over 100 trades and a win/loss ratio of 67%. I believe I have learned enough to understand what the parameters of trading are for me. That is, I believe that with diligence and patience, I could possibly get to about a 40% annual return. So based on that, it isn't likely that I'll make this a full time job, because chances are I won't be willing to make the kind of sizeable trades that I would need to make a living. But here's what I've learned - probably trading 101 for most of you. It is much much more important to make the right trades than to make a lot of trades. If I could be right 70% of the time and executed 12 trades per month that is about a 40% return. So that's my plan and time will tell if I can succeed.