Draft: it's a measure of how far below the waterline the ship goes. A draft of six metres means the very bottom of she ship is six metres below the waterline. You can find the draft values for each ship in the recognition manual. Small nible ships like destoyers and corvettes might have a draft of only one or two metres, whereas a big old tanker or battleship might have a keel far more than 10 m below the waterline.
The further below the waterline you hit with your torpedo the more damage you will do, so you will want to check the draft of the ship you are targeting and set your torpedo depth appropirately. You will DEFINITELY want to view your shots through the ecternal 'event camera' when figuring this out, as if you set your eel too deep, it won't impact a flat surface at 90 degrees and will just bounce off when using an impact pistol to detonate your torpedo.
Knowing the draft of a target also allows you to set your torpedo to detonate magnetically as it passes under the ship, between 0.5 and 1 metre below the keel (the draft value given in the recog manual). This is the most devastating shot you can carry out and you can sink even the biggest ships with a single torpedo this way by breakng its back. You should only use magnetic detonation in calm seas, and IMO when just starting out sticking to leanign with imapct pistols is the safest way as you avoid introducing yet another variable that you must keep track of.
EDIT: where are my manners; Herr Obersteuermann not only provided a fine explanation of draft including photographic evidence but also didn't forget the important point of actually congratulating you on achieving some success!
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