I don't know where you got your figures from, but right now the ES overnight margin is a little over 5k a contract. Some brokers offer lower margins intra-day but I don't think you want to take such risks.
Ive been trading ES for 2 yrs now. If you cant do at least 2-3 points per day, then you should either practice and/or rethink your strategy on a simulator like I did when I first started learning the ES market. Learning price movement in relation to volume and pivot points are the biggest keys to my success. Good luck to you... And dont use too much margin when you start out..usually no more then one contract per every $5000.00...and use hard stops. Most ppl use 1 min charts,,,others use 2,3,5, 15 and so one. (I use 3, 10, 30) The larger the time frame the bigger your stop placement should be from entry.
No, look at the official CME website: http://cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightEQ.htm?h=2 Look at E-mini S&P. The current initial margins for the ES contract is $5,603.
<i>"It seems the best strategy is to preserve your capital, learn all you can about the fundamentals and jump in head first with 1 contract. Am I correct?"</i> Nope... not even remotely close. <i>"The best way to learn is the hard way. In this business there is no other way."</i> All of it is the hard way. There is no easy way... just faster or slower ones. If you mean thru trial & error aka the school of hard knocks, prepare to spend five or six-figures on your complete education.