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If you get the Fishopedia from the store you will be able to tap on the phone that vibrates on the boat and look through the list to see how much each catch is worth.
Invest in the Toaster upgrade early in the game to increase your earnings considerably. When the Toaster upgrade is equipped the first fish you touch when you are on the way down will be electricuted which will enable you to continue downwards until you hit a second fish.
If you have a Chainsaw upgrade attached you will be able to sink the line quicker and slice through any fish you come into contact with by holding down on the screen. Be careful that you do not run out of fuel and get your hook caught early on.
To be able to earn big money you need to keep your lines upgraded so you are able to dig deeper into the ocean and return to the surface wth more fish on the hook. Focus on investing in this upgrade whenever possible until you get to at least 300m.
The most effective guns against the flying fish are the dual Uzis. When you hold down on the screen where you want to aim your fisherman will automatically fire into them. To keep moving up the screen clear the flying fish at the bottom of the pile.
Avoid jellyfish on the way down and on the way up as bringing them to the surface and shooting them will inflict a penalty against your earnings. If you touch a jellyfish on the way down your line will rise back up to the surface if it has not been upgraded.
You can change your location by tapping on the phone icon in-game and then going to the map section of the interface. From there tap on the part of the world you want to go fishing and you will be instanteously taken there.