This is an excellent question. In September last year I took a decision to return to Forex trading participation after an absence of around five years. I had just read a book called Super-forecasting - the art and science of prediction by Philip Tetlock and Dan Gardner. I read a lot of non-fiction books, and this one stuck in my mind - like those of the renowned Trader’s psychologist Van Tharp. Super-forecasters basically explores the concept (funded by US NSA predecessor) that there are individuals in the world that are better at forecasting complex future events than the average person by as much as 10% (say, up to 60% of the time). Grouping such like-talented individuals together could result in measured results improving their combined rate of success to as much as 69%. Imagine being able to improve your win ratio in Forex algorithm by 9%? Well, that is the difference between a loser and “the 1%”.
With this in mind, despite me having quite a broad range of friends and colleagues, only one of them knew anything at all about Forex and he had in fact mentored me in Forex whilst I was employing him for nine months to standardise the management and operating principles of our UK property portfolio.
I then went about random Google searches. I typed in “MeetUp Forex trading groups in Manchester” for local context and was amazed to find many groups, the largest of which seemed to have over 900 members. I contacted the organiser and just turned up to a meeting with about 35 attendees with two of the cohort giving professional presentations about their strategies, plans and experiences. I attended three of these before Covid-19 came to us. I have not been proactive, but maintain participation in a What’s App group with these folks. They did set up a Zoom meeting on a few occasions but I have not attended because I felt I did not know them well enough as individuals and did not know if I could offer them anything useful from my own experiences.
Anyway, what I liked about joining was what I expected - to know there are thousands of local people in any city interested in Forex, that most of them are far younger than me, and I had an alternate agenda to take my son to these meetings so he could learn about how people approach Forex and introduce him to some potentially like minded people. There is nothing I dislike about my 2019 group-find. But my experience tells me that you may be disappointed initiating a similar group unless there is a mandate, a terms of reference or an agenda that could be agreed amongst the group founders of what the group will do (and as importantly what the group will NOT do) as a purpose for its existence. That then has to be attractive enough for a number of users wishing to participate for their own benefit, besides a feeling of collective benefit. So as others have suggested, the idea may have legs. But first, it would be useful to ask broadly if such groups already exist. I am “multi-national” by nature having spent the last 30 years of my life working remotely in global telecoms and IT industry, so teleconferencing is a good medium for me. Something like Microsoft Teams or Skype or What’s App as the core of a comms app that attendees would not feel overwhelmed to be able to participate in. Sorry for long reply, but this is one of my longer term goals to find a small group (maybe as few as eight to ten) of individuals diverse with their education to share some of their successes and failures a la Super-Forecasters.
I had set up a teleconference group myself with nine of the attendees of a paid course in London in 2011 for FTSE100 stock trading. We agreed to do this on the course. As you may predict from day 1, my weekly agenda was attended by most six out of nine of the original cohort, and after some eight weeks, I was talking to myself, wrote to all participants stating that unless I had any member wishing to continue that I would not continue. One replied politely declining.