trading may look difficult to some people and look easy to some people too, many people out there are making money by trading in the crypto market, stocks market and so on, but that doesn't mean that trading is a bitter life and expensive life, people who are trading and making profits from the trading are just living a normal life like you and me. So don't let anybody deceive you by brain washing you that trading is a better life and expensive life. See let me tell you something trading is very risky, if you don't analysis the market very well before placing a trade all your funds will be gone in a Twinkle of an eye, so be wise in this crypto space.
Whether someone will live a simple or luxurious life after becoming a trader depends on how they do it and how much profit they make. The amount of profit one can make from trading will depend on two things: how good they are as a trader, and how much capital they have. A profit of 5% a day with a $10,000 capital is $500, whereas 5% of $500 is only $25. So, considering how much money one has to start their trading journey, and whether they can stay profitable in it, one can live a luxurious life as well, especially if they live in a country where the value of USD is very high and the money they earn from the market might convert to a lot of money in their local currency.
I live in a third-world country, so even if I make $100 a day, I can live a very luxurious life, and can afford anything, but if someone lives in a first-world or developed country, such as the US, it might be considered a below-average income because if one full meal costs barely $5 in my country, it costs more than $20 there, roughly.
So, it all depends on how good you are at trading, how much your capital is, and where you live.
What can give someone a luxurious experience in one region might not be enough for one to survive in another.