Forgot to answer.
Is it possible to be a successful at home trader with no other source of income who began with modest means? Yes! But I highly suggest at least 30-40k to begin and 6 months living expenses.
My Story.
(First, i am brazilian so sorry for my english...)
I studied electrical engineer and MBA in Finance, it sure helps on the market.
I started trading by myself doing some crazy operations based on 3 days trading courses. Some winning and lots of loosing days probably went down 50% first...
inflation... There is nowhere to go in Argentina, people there can't buy dollars... Check the "blue dollar" quote. Real estate is going "great" as well!
For those from US...just dont do this crazy idea!
I have brazilian and european passport, i would love to pay tax in US (I actually do 150k+ )...I've been all continents and, for me ,USA is by far the best country...(i've travelled the east and west coast).
Trust me, your grass is greener...