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Summary: Bobbers, or floats, have buttons on top that can be depressed and attached to the line by a hook. Adjust the depth when using a fishing bobber with help from a commercial fisherman in this free video on fishing equipment.
"Alright, how to put on a fishing bobber. Got your line with your hook all set and you got your floats, they come in many different kinds but they all work on a similar principle. They've a button on the top which you depress, a little hook will come out, attach that to the line, then put your thumb on the bottom where you attached the first hook and depress the top part. Another hook will come out, put the line under there and your fishing bobber's attached. Now you can adjust your depth by placing your thumb on the top part again and sliding it either up or down the line. Most fishing bobbers you're going to want to set about two and a half feet but depending on your specific situation, you may want to go a little bit more, you may want to go a little bit less. The best way to try it is to just go out, try your first depth if you don't get any fish, adjust accordingly."
eHow Article: How to Put on a Fishing Bobber