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Know where the fantasy cliff is -- and don't go over the edge.
Look at each position you need to fill, then determine where there's a significant dropoff from one player to the next. For instance, I rank the top 12 QBs as follows:
For me, the difference between Rodgers and Romo is slighter than the dropoff from Romo to Eli Manning. In other words, there's a "fantasy cliff" I'll watch as names start coming off the board. If I can't get a top-tier QB, I'll be certain to grab one of the second-tier guys. On the surface, it seems like there are at least fifteen viable options at the position… but look more closely: last year, Brees (at No. 1) by roughly 130 points (a 10 points per game difference). That's a huge dropoff -- so make sure you're on the right side of that cliff.