To be clear, I gave it up (years ago) because it didn’t suit how I wanted to trade, not because it didn’t work. I’ve had sporadic messages from other traders who say they’re doing quite well with it.
Yes the barrier for entry is quite high. If you’re looking to become a good trader quickly, prepare to be disappointed. I myself went through a very long period of not trading at all. My spare time was crammed with research, writing down ideas, backtesting, starting again from scratch … and occasional periods on a demo system to see whether a strategy that looked good in the backtests would actually suit me in live trading. Eventually things came together, but it wasn’t easy.
Trading is like any other profession, it takes a lot of determination and hard work to become successful, there’s no shortcuts. Well there are - you can buy a “professional” trading strategy, or a signals service, or an EA, but then you’re placing your fate in the hands of others and it rarely works out well.
The biggest problems you’ll face with trading are twofold. Finding a profitable system that suits you, that’s the first, and its not easy. The second is learning to trade that system with real money, without letting your emotions pull you away from its rules. And that is an extremely tough one, and only you can learn that for yourself. Most people, myself included, have had to blow through an account or two before we’ve learned how to identify and defeat our own personal demons.
By the way, if you decide trading’s not for you then relax - that places you in the top 10% of traders. 90% lose money, so by not trading, you’re already off to a good start