I've day traded asx stocks for years. It can be done and you can earn a living from it. You need to be well capitalized to start though. 100K would be good for the 'Thick' stocks on the ASX, your banks, big miners and such. You first need to learn how to read the Market depth, or the tape, watch the spreads and wait and see which side the gaps are filled by. Practice this over and over and see if you pick the direction correctly. 'Live Charts' can be a little lagging, I tend to follow the tape,I never look at a chart, during the day. if you have limited funds the mids and smalls may offer some practice training, but they need to be liquid. You'll also need some stock filtering software to put you where the 'Crowd' is each and everyday. You need the crowd to make money. Volume is your friend.
As far as the FX goes, it's a good place too, but it moves fast, sometimes too fast, and if your slow merging onto a super highway, you'll get run over pretty quick. I tend to just short the FX, but you need to be patient, let all the speedsters run out of road and that's where I come in and go short, an entry to short is much easier, well for me anyway. It does take practice though, and you'll lose plenty, before you find the right side of the trade to be on, before it races away.
It's a funny experience to try, and learn, because you have to do the opposite of what you think you should do. When a stock starts to run up, you don't want to be trying to buy it. You want to be selling it to someone else who wants it. In other words you need to be in the trade before it runs, so when everyone rushing to buy, your standing at the top of the stairs holding yours out to sell. Understanding 'Market Depth' will give you that edge.