I know of a bunch of young traders with limited professional experience that made good money in 2023-2024, and have maintained the same style of trading in 2025, with on average worse results. Like every speculative market environment, experienced professional traders aren't willing to put on the sizing or play "left curve" trades, even though that's the optimal trading style. These traders are now going to go through a herd thinning process. Some will learn to adapt to future market environments and are humble enough to accept that maybe their outsized returns weren't skill as opposed to the right personality/disposition for the market environment, and some degree of randomization of outcomes. Some will assume they're the next George Soros until they're taken out of the market one way or another. Those that make it out on the other side will likely be good professional speculators, the rest will end up recording podcasts, selling courses, or moving on from trading to another profession.