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Seeing whales place orders makes me want to copy their moves—can I really copy their homework?
Now I tend to pause first and ask myself: Are they slowly building a position, or are they taking spot as a base and using derivatives to hedge risk exposure?
Recently, the fee rates have been extremely outrageous, whether in the group arguing about reversals or continuing to inflate the bubble, I prefer to treat these “whale actions” as risk management signals, not as directional hints.
To put it simply, you can't see others' position structures, and blindly following can easily mistake hedging orders for bullish/bearish positions.
My own approach is still the gardener’s method: first trim off the weeds in the position, keep some ammunition, and wait until the fee rates return to normal before adding soil—no rush.