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I can't agree more with icontact. I also use a submerged bobber setup for walleye, frankly for every fish, but it's most important for walleye. I want as little resistance as possible and as a result I try not to use tip-ups if possible, as they just run off too many fish for my liking. I'd rather have jig rods set with submerged bobbers and hang them on a bucket. If I'm close enough to see the bobbers I'll just leave the bail open to free spool line. If not, I'll pull a couple of feet of line out and close the bail, and make sure there is enough wait in the bucket and the drag set right to "fight" the fish until I can reach it. That's just my preference and may not be shared by others, but it's how I've evolved to work walleye.
Hali's are one of my go too in the chartreuse or the fire red with walleye and perch. My other go to jig is KIT'S Glass Minnow . in the 1/8oz in fire tiger or perch. And this year I am going to try the drop shot rig with some gulp minnows and maybe a tube bait or two. I have never had luck on tip-ups with walleye. GREAT for pike.