FX Loony Monday

I made a few important decisions last week, especially in the weekend with regards my Forex education and activities.

Decided
That I will trade Forex:

• virtually until I have $5k from options trading ($15k total - $10k minimum account size for options).
• only on days when I can't trade options until I have 20 closed options trade under my belt!

I have read the 100 pages ebook (printed out of course). And has found many interesting facts that has brought Forex trading closer to my understanding level.

Learning points and open questions

1. It is quite possible to trade Forex in a fashion similar to options trading but
1. risk has to be managed more rigorously, max 2% account drawdown is bearable,
2. there is no per trade related charge in Forex trading, but instead there are spreads - the lower figure the better, as it makes trading cheaper.
2. Pips values for different pairs are different (GBP is one of the highest) that is obvious based on the definition of 'pip' which is "the smallest measure regardless of the fractional representation of the currency exchange rate".
3. How can I make Forex trading simple and relatively risk free? To answer this probably I will have to try it for a while eventually.
4. How can I manage a relatively easy going and rather passive style with automated trade exits and entry signaling?

I was simply not in shape though to try any of the strategies learnt over the weekend.