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The only way you will ever be handicapped by a flasher is if it falls out of an airplane and hits you on the head
How small is your cone area covering one to three feet beneath the ice?
At least with a flasher it looks like you know what you are doing. Thats why I got one. LOL
Can't say that I have ever used a flasher for it's entertainment value. I usually find it to be a valuable tool when on the ice. Maybe I'm doing it wrong.
I've ice fished since 1996 and until last year I never had a flasher but now that I do I'm sure I'll catch more fish. At least I'll know if there are any fish below me rather than fishing blind. As for the shallow watter I just site fish also but mostly I fish in more than 10 feet of water as a minimum. I don't think a flasher can hurt, just help.
I personally have stopped using hooks and tie spikes directly to the line. No more spooked fish! I also wear all white and paint my face white so fish can't see me walking above their heads.
A lot of your tournment guys that fish the NAIFC etc. put ther transducer 1/2 to 2/3 down ther hole, and they dont have a lot of fish getting wrapped up, and when i fish in 5 f.o.w i just have my transducer an inch-2inches under the water at the top of my hole... and im fishing in 4" of ice+