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Legendary trader Stan Druckenmiller once said, "The way to build superior long-term returns is through the preservation of capital and hitting home runs."
When comparing the processes of a junior and senior trader, one will notice that debriefing is an integral part of their trading routines. However, there is a crucial difference between their approaches. A junior trader, being in the phase of acquiring new skills, will likely have detailed debriefs focused on optimizing numerous aspects. This approach may lead to inefficiencies initially, but it is acceptable as this phase primarily involves acquiring multiple skills.
Conversely, a senior trader focuses on maximizing the skills already acquired. Their debriefs are more conceptual, centering on extracting the maximum potential from what is already known.
Revisiting the initial quote from Stan, it's not about trying to eliminate losses or achieving a high win rate. It's about ensuring that when you do something well, you are very well rewarded for it. This concept highlights a key difference between junior and senior traders.
If you are curious about how senior traders work on their game, don't forget to visit our previous video about Trading Frameworks,👉 • What Makes A Good Trad...
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