In regards to your question about how long you should wait before retrieving! Use your sonar/fish finder to determine how deep the fish are then make your cast and count it down as such~~ fish marked at 15 ft, once you cast and lure hits the water mentally start counting down 1 one thousand 2 one thousand until you reach 15 then start your retrieve. You may have to experiment with your count down with both speed of count and number until you get a bite then try to duplicate those countdown methods that produced the bite. Weight of lure will also have an effect on how fast the lure sinks so you would have to adjust your count accordingly.

Since everyone will count at different speeds there is one thing you can do to help yourself out if one is catching and you are not and that is to watch the other person catching the fish and when they make a cast start your countdown when the lure hits the water just like you had made the cast yourself continue counting until the person catching the fish starts their retrieve. Now duplicate what the one catching fish is doing using your number of counts, this will put you real close(within +/= a count or 2 to the proper depth that is producing fish.

There are several variations of casting lures, Wt forward lures such as Erie Dearies, nuggets, casting harnesses and weapons.