Place the balance pin along the top of the hook shank so it projects out past the eye, slide the copper bead over both the pin and the point where it meets the shank, then lash the pin down so the bead sits ahead of the hook eye. This front weight is what makes the fly hang horizontally under an indicator.
Add the ruby-red glass bead behind the copper bead as the 'eye', then secure everything with tight thread wraps and start the body at the bend.
Tie in a tail of olive marabou about one shank length, with a few strands of UV gold flash blended in.
Build a shaggy dubbing loop of olive Club Dub and wrap it forward to just behind the beads, forming a tapered, buggy body.
Pick out the dubbing so it breathes, then whip finish behind the beads and cement.
Check that the finished fly balances level when hung from the middle of the hook.