The present invention relates to storage stable film forming latex particles that crosslink under ambient conditions during or after drying. Monomers for the formation of the crosslinkable moieties in the latex particles include diacetone acrylamide (DAAM) or the likes and methacrylamide (MAM) or the likes with or without styrene. A paint composition comprising the storage stable latex particles that may include a small amount or crosslinking agent such as adipic acid dihydrazide (ADH) in the aqueous phase is also described.