I prefer a pencil cork as mentioned above because I feel that a nibble is easier to detect, and less resistance to the fish feeling the bobber and letting go. Size depends on the size of the bait, and the weight used to keep the bait down and launch the bait into the wind or for distance. If you are using an ultra light rig you would downsize everything according again to the size bait you are using and the species you are after.
I want the biggest round bogger that I can get for the SET-IT-AND-FORGET-IT. This is a Bass fishing technique that I learned from an Old Lady. With the wind blowing attach a 4" Swim Bait to a Wide Gap Hook with no weight and throw it out in front of the dam. Let the wind carry it along un-weighted, parallel with the shoreline. She was just fishing off the bank while reading a book, sitting under an umbrella. Ha.. She caught 5 over 5 lbs in less than an hour.
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