Is trace mitral and tricuspid regurgitation something i should be worried about considering im in the military with a combat job and experiencing symptoms?

What symptoms are you having? Typically, trace mitral regurgitation and tricuspid regurgitation do not cause clinical symptoms so perhaps your symptoms are related to something else. In either case, a cardiologist should be able to diagnose the etiology of your symptoms and give treatment, if needed. Best of luck to you!

Probably not but one Drs reading of a "trace" may be read as a big or small amount by another. Work with your Drs there. Ask for second opinon. "Traces" usually are considered normal (common) depending on who is reading and skill of echocaridographer.