As simple as it might sound, forage and cover. I often make things way too complicated when I am out there and it’s good to be reminded of the basics. Where there is forage, you will find predators. These predators didn’t get big by expending lots and lots of energy, but rather have found spots that afford them cover or current breaks, with access to water that has forage.
Just my two cents, right off the bat. Again, I recognize this may seem simplistic, and I am looking forward to hearing other’s thoughts, but here’s to getting it started.
Most big fish spots a hard to predict. Its just time on the water that shows one spot may hold bigger fish than other areas. Keeping mental notes of what size fish you have caught where and when will help locate these spots. If all you are consistently catching in a spot is small fish you either need to change how you are fishing that spot or go looking else where. Sometime the big ones are not that far away or maybe they just show up at a different time of day. It all goes back to spending time on the water to figure them out.
Also make sure your fishing water that has a good population of big walleyes. 
If you are fishing a river you need to keep in touch with the fact that moving water is variable water and can have a ton of influences. With only a few inches of water rise a spot that was good a couple days ago might not be good at all until the water recedes. Very high water has a way of erasing viable locations while creating new ones, so constantly looking for new areas should be 1/3 of your fishing trip each time out.
Some wing dams, shallower sand shorelines adjecent to breaklines into deeper water are good areas to snoop around. I have always looked at river walleye water as the opposite of what I find sauger in. If you are catching a bunch of sauger, look at the elements that set up that bite and then start looking to areas that will eliminate your sauger catching.
Probably the best cheap piece of equipment you can buy is a set of maps, whether you are fishing a river or a lake. Having a good “general” idea of where you want to look for walleyes specifically can help you narrow down preferred spots within a preferred area. Maps can be studied at home so you can apply some reasoning to your sight selections and not have actual fishing as a distraction.
There are plenty of tricks that can help lead you to El Piggo, but nothing is a better teacher than experience.
Everything stated above is very true and another factor when you talk of lake spots in wind. I have certain spots on Pepin that I know will crank out a few big ‘eyes if the wind is “right”. These same spots either don’t hold the big fish or the fish are inactive if the wind is minimal or out of the wrong direction.
Boy, when you figure that one out let me know too!
To add what the others stated above, time on a body of water is critical. Once again I can not say enough about Dustin: he spends tons of time on the water, basically all his free time not guiding is looking for fish. Also, he isn’t running around from lake to lake or doing other activities–he is looking for pig walleyes all the time. I have known him long enough to personally see how hard he works and how much it bothers him when he isn’t catching fish. No matter the time of year or type of day–he is out there on pool 4 trying to dial them in. That I believe is the effort necessary to stay on the big fish bite consistantly–something most of us are not willing to do. I think with that type of time on the water, one could start to predict how the changes-however so slight-will effect baitfish and in course the walleyes.
I think you and I need more time on the water. 
Jeremy
Stage & Flow combined with migration patterns. 
Transition areas are usually the “spot on spot” locations for my bigger eyes. It can be rock to weed, weed to sand, sand to mud, mud to rock, etc. but this almost always is the constant variable. River fishing i am much more apt to look for variables in current during stronger flow thus current breaks, eddies, slackwater, etc become the transition areas i seek out.
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