not only are your correct, but what you say is a necessity for a profitable trading outcome. many think that trading is all about knowing what you must do, when it is the exact opposite that works.
if you are in london then you have a major advantage over many traders, namely margin requirements and tax on profits. however, as with all things in life, you must know the limitations of using such advantages and have a suitable plan to effect when and as required.
there are plenty of US-based futures brokers that provide very low intraday margin, i.e. more than enough rope to hang yourself.
and some advertize on this site no doubt. there is nothing wrong with using low margin requirement accounts once you know what you are doing and know when to exit a trade for a profit or a loss. most do not of course and will thus blow the accounts very quickly. if someone want's to learn how to trade the mini dow or the es then it is best to keep the risk as small as possible until profitable for at least 3-4 few months in a row. the majority will risk way too much, be it per trade or the number of trades placed per day (over-trading) which is best, A or B, and why? A = place one trade per day with small risk and potential profit far greater than risk taken B = place many trades per day with smaller risk than A and potential profit not much greater than risk taken you do not have to be like everyone else in order to make money trading and if you can make it your business to be different then your chances of making money increase greatly. sounds easy but the hardest thing in the world for most to do!
Alot of trades (cost you about 25% in commissions?) but bottom line is you kept more than you gave back, so if you can do that every day, you should be golden. Nice job. (sorry for the late response).
Tomahawk, Thanks for the positive feedback. I'm now find myself losing as much as I'm making. I need to change my strategy. Cheers