Whales are large investors who own large amounts of cryptocurrencies and may greatly influence market prices when they move significantly in trading. Here are some tips to avoid falling into a whale trap:
1. Balance in news: Avoid complete reliance on market news, especially that which could be misleading or designed to influence the market.
2. Survive the market: Maintain a consistent strategy but adaptable to market movements and shifts.
3. Learn from the experts: Follow traders with long experiences and a successful trading history and benefit from their analysis and advice.
4. Risk management: Set limits on potential losses and target profits and stick to them without drifting away from them.
5. Technical Analysis: Use technical analysis tools to understand price patterns, trends, and key levels of support and resistance.
In short, keep learning and improving, and develop a thoughtful and diversified trading strategy that will help you deal with market fluctuations with confidence and avoid potential traps.
