Here is how I fish nymphs, I have spent some time trying to figure this out and I am convinced that high-sticking without a floating indicator is the answer. A floating indicator will normally move faster than the water at the bottom of the river where the trout are holding causing the fly to drag too fast to look natural. The same thing will happen if your line is on the water adding downstream drag, so I use a long enough leader that only monofilament in the long leader or long tippet is in the water (because the small cross section of the leader will not cause the fly to drag) with a properly placed sighter and sinking indicator that I might be able to see under the surface. The point fly needs to be right at the bottom and moving at the slower pace of water at that depth.
Watching this video, don't be fooled that I am a great high stick nympher, I am not, I just happened to be at the right place at the right time after they had released a pod of stocker rainbows into the river when I filmed this. They stayed podded up there for three days and I was able to catch and release a bunch of them.
https://www.youtube.com/watch?v=VAQ8WNB ... Z2&index=2BTW, the rod I use for this is a graphite 12 ft, 3 wt from MaxCatch. The tip needs to be much faster than my normal Lamiglas favorites because the moment is so brief to hook a fish that the flex in a slower glass rod does not happen in time for me.