Hi there Sahil,
Yes, you have described my problem perfectly.
So far I've tried something like method 2 from what you have described, but I didn't get good results. I was thinking that if I just decreased the laminate's modulus of elasticity, the curve's slope of the force vs displacement plot would also decrease and I would get something more similar to my experimental results. What I got instead was a specimen that didn't endure almost any force.
I will try method number one, but the best I can do is get the properties of the resin I've used. All I know from the carbon fiber is that it has an area mass of 30g/m^2 and it is biaxial+45º/-45º. Similar to the one in the following link