I've read fairly extensively on this. Most people who try forex trading lose money, in the range of 80-90%. The rest who make money consistently apply rigorous rules to their trading and have the discipline to manage their emotions. A few claim to make money using computerized models as well with varying success.

Is it possible? Sure. Is it probable? No.
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I trade FX as well as stocks and I used to be a professional trader.

Succesful trading really has to do with emotional control and dscipline because its based on odds. The odds are usually not higher than 55:45 in your favor so expect to lose fairly often. It is extremely nerve wracking and it takes lots of money you can AFFORD to lose to do succesfully as a professional. Most likely at least 25K. It also takes years to learn and often with huge losses. You make the big money in usually only 20% of the time, the rest try not to get torn up in the markets. Its a good job for adrenaline junkies but its not for everyone.

Yes people say 90% of people fail to make it, however so do 90% of doctors and lawyers. Its about how much you want it and how hard you wanna work at it. But it most definitely IS possible.
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I've got to answer this one Forex is all my all time favorite financial instrument in which I achieved profits with.I've been trading for about 3 months now so I'm new myself but I asked myself the same question you asked.Yes I honestly believe one can day trade forex for a living the odds are better than with stocks if you ask me.Anyways I recommend you first get educated on what forex is how's its traded how to develop you're personal strategy technical indicators n etc.A good place to start is http://www.babypips.com excellent website that does just that.Explains the basics with simplicity n doesn't confuse one that is new to forex.I then would practice trade for a while a least a month or 2 to get the hang of things.This way you aren't risking your own money.As far as an actual forex ea or robot goes I would look at some reviews n such first.There are 2 or 3 out there that I like but I would say find one you like then try it out on your practice account for a couple of weeks first.Just remember significant risk is involved as in any other investment.Hope this helps you out n the best of luck to ya.
References :
http://www.babypips.com

You can also make money on a "breakout". That's a stock that's hitting a new trading high or low that day.
You can also make money by "scalping", or getting a thin piece of a rapidly-rising stock's upward momentum. Buy 1,000 shares of a $35 stock, hold it for 10 seconds, and sell it for $35 1/8.
Of course, that's if you're any good. Many people just don't get it.
Jane B
References :
http://www.doublingstocksnewsletter.com/day-trading-robot-make-6k-in-24-hours