It can be feed dependent. With the feed I got from the Fish Farm when I picked up my fish I add 2 tsp of water per 1/4 cup of feed (you may need to add or take away water based on your feed), shake for 1 minute ( I use an old coffee can), then shake 1-2 more times over the next 10-30 minutes. I then let it sit 2-6 hours. This allows minimal "sludge" when you first add water, the sludge is a potential loss of nutrients. This also turns the pellets to a play-doh consistency. The benefit of this consistency is you can mold them or mash them. My pellets are small and I have a couple large perch in my mix, so I like to give them bigger treats. Bill says the bigger the perch get (think like 14"+) the less they like to rise for food, so I mold a bunch of little pellets together and smush the air out so they sink for the big girls. I can also straight smush individual pellets and allow them to sink. I feel like this gets the perch riled up quicker. The pellets I don't do anything to still float. I usually feed in the evening, so I usually mix up a batch after lunch sometime. If I work and don't get home until dusk I just feed dry food.

I also made a feed ring out of 1" black poly water line ( you need a 4-5' circle for this material to make a nice circle, about 15 feet of water line makes close to a 5ft circle) that helps keep my floaters from floating to shore.

[Linked Image from lh6.ggpht.com]