The distinction from a signal group is total. A peer review group does not tell you what to buy. It looks at your logged trades and asks why you sized that way, why you moved that stop, and what rule the entry satisfied.
Small and closed matters. Three to six people who know each other's strategies can be specific; a large open room drifts into chat, calls, and groupthink within weeks.
Set a format: each person brings their worst execution of the week, not their best trade. Groups that share winners become entertainment; groups that share errors improve.
Related: accountability-partner, groupthink, signal-group, post-trade-review