Going F5 is not a cheat - the symbol is a radio report brought to you by another sub, a aircraft or maybe a radio transmission intercept. I always stay at F5 while cruising, just to make sure I DO see the contact reports when and if they show up on the map.
Once one pop up, draw a line along the little "tail" of the box - this will give you the targets course. Then check what the box says about speed - Slow = 6 kts, Medium = 7-8 kts, Fast = 12++. This will allow you to estimate roughly how far down the path of the target you have to travel to make sure you make the intercept. Set your waypoints so that you intersect the targets course as close as possible to the box on the nav map (to give the target as little time as possible to alter course et cetera).
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