How do you decide ? Do you start with one and then switch to the other? How long does it take you to make the determination ? Do you second guess the choice or have full confidence in the decision ?

I have a small club TX tomorrow on a lake which I won the club TX two years ago. Two 1/2 weeks ago the lake was 6-7 foot high. One week ago it had been lowered to 2 1/2 foot high. Today it is 1 1/2 foot high. I have fished the lake twice in the last 10 days for about 5 hrs each time. The first time the lake was 6 foot high and I only caught one 17" fish in a spot which is dry land now. The other 5 hr. trip I drew a complete blank ! I am not on any fish. Should I use both approaches or stick to one or the other?
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both

I like to start power fishing and if that doesn't work then pick up the spinning rod

I would say both. If im blanked Ill go find some "fishy" water and start out with some ground covering locator baits- crankbaits, rattletraps, etc. if i get them to answer and the quality is good Im gonna stick with it. If I get 1 or so but I truly think they are there I will slow it down. depends on the water on what I use- varies between jigs, worms, chatterbaits, swimbaits, shakyheads, etc. If Im still blanked, I personally, will slow it down, go small and go easy- shakyheads, dropshots, crig.

power, like to try and make em bite whether they want to or not

Slow down with wacky if the don't chase.

Do not know what lake your fishing. But cover water regaurdless of bait. When water is dropping fish are on the move and you should be as well.

I like finesse with a wacky rig.

Fish your strengths when you are unsure. When in Doubt;Pitch it Out.

1 - 2 punch works for me... or 1-2-3-4-...punch. Remember your success, duplicate, use your gut. If they aren't biting, you have two choices, either move or change.