The set is best made on a bank where the trap can be bedded under the can in shallow water. Look for a location with an obstacle on the bank that will force a prowling raccoon into the water.
Use a trowel to dig a hole for the soda can, deep enough that the top is flush with the ground. Pack dirt back in around the sides to make it tight, leaving the top of the can clean. Use a squeeze bottle to squirt a healthy shot of fish oil into the can.
The trap is bedded in the water with the close jaw edge about an inch out from the shoreline, centered under the can with the jaws maybe 2 inches below the surface. A water-logged leaf may help conceal the trap, and a leaf over top of the can will also help hide the set from prying human eyes. The leaf also keeps unwanted water out but doesn’t prevent the aroma of the fish oil escaping. A raccoon will smell it and push the leaf out of the way. Then the silver top of the can may further pique its interest. Where theft isn’t a concern, you may want to just leave the can uncovered.
A stake in a soft, sandy bank may not hold a big raccoon. If you do stake the trap, use at least 18 inches of record and check to make sure the stake won’t wallow around in the ground. Double staking is better, and a drowning rig is even better, as the raccoon should be humanely dispatched before it really works the stake.
I make my drowning rig with a sliding lock at the end of the trap chain, on a length of stro