To add on Lou's advice.
If you think of the VTS much like that if an outdrive it is the same theory. The deeper the prop is in the water the better the ability to handle a load. Specifically, if the nozzle is in the full down position and you floor the throttle you will get the most performance from the nozzle. So if you were racing or had to pull something the nozzle should be full down when you first start. Once the ski gets some speed and starts to get up on top of the water you want to decrease the nozzle angle as this will decrease the downward pressure of the bow, thus less resistance on the over-all hull to the water pressure you are riding in. If you have a strong engine and raise the nozzle all the way you will begin to bounce a lot as in this nozzle up position the ski has the least amount of hull in the water. It is often the fastest you can go as well.
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