A $1 minimum deposit means that you can open a trading account with as little as $1. This is typically offered by brokers to make it easier for new or small-scale traders to start trading with minimal financial commitment.
Yes it is possible despite requiring a work ethic, being able to earn $1000 per day is still highly achievable. Some opportunities will not require you to learn new skills. To make $1000/day with hot stock options, you'll need to know how to buy and sell stocks at the right time to buy and sell.