Honestly, recently some people have been watching whale addresses to copy trades. I used to do that too... but now I’ll pause first: Is this position gradually building a position, or is it holding spot/perpetuals for hedging? Seeing the aggressive buying, but on the other side opening shorts and locking positions, those following become just innocent bagholders. The simplest feeling is: if he’s moving between different pools/different chains, like “adjusting structure” rather than betting on a direction, then I won’t follow. I’m not sure either, but I’d rather miss out.

By the way, I thought of that NFT royalty mudslinging battle, where everyone is arguing about creator income vs secondary liquidity. Actually, whales are the same; many operations aren’t about taking a stance, but maintaining liquidity and position balance... Anyway, before copying trades now, I ask myself: am I following his direction, or his risk management? That’s all for now.