Which stage is most important?

[Jimoutside]

I'm not sure if I'm able to ask this in a way that makes enough sense, but here goes.

If I'm bank fishing on the river (it's pretty small, shady, shallow with deeper spots), and I cast and let my bobber and bait float downstream to where I think might be a good shady fishing spot,which stage of the cast / retrieve cycle is when fish normally bite?

I consider the stages to be these:

1. Initial plop-in
2. Floating down-stream open-bail
3. Bail stopped, bait sits in one place, possibly moving sideways with the current, but essentially stationary
4. Reel-back
5. Retrieval (that stage where you're about to take the bait out of the water).

Along with that question, how long would you leave your bait at stage 3 before reeling it in, if you have no hits on it, and there is no sign the tackle is in trouble?

Also, how does this apply for different baits and species? today I tried for catfish with chicken liver/blood dough from Wally World and didn't get a single bite. The bait stayed on the hook fairly well, but I never had a nibble. It smelled bad enough!
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