Hi Julia,
When you choose to watch a space, you'll get notifications for everything that happens on every page (as long as you have permission to view that page). There is no way to choose which of these notifications you get, you either get all of them, or you get none of them.
From the user point of view, there is a Notify watchers checkbox at the bottom of each page. This can be turned off by the user before they save their changes, but this isn't recommended because watching pages and receiving notifications about changes is a big part of the collaborative functionality of Confluence.
If you're getting too many emails then you should consider not watching the entire space, especially if the space has a lot of activity.
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