One trader-status guideline calls for working four hours per business day or more on the trading business.
Well anyway, I'm not impressed until I see the dollar amount of the home-office deduction.
Also consider that the default method of over-the-counter Forex trading already takes unlimited trading losses against overall income. But who needs that trader-status feature ? I suppose someone who worries that they might lose a large amount of money, then give-up, and then too-slowly benefit from a capital-loss carryover.
Finally, the 1099-B now mostly automates the wash-sale accounting. So the simpler accounting method of trader-status might not be needed.
In any case, don't forget that for those in high tax brackets that futures trading takes short-term trading to lower tax brackets. Also, futures trading, without the itemization of trader-status accounting, is the simplest accounting of all.