Hey fishing_guy,
I am very glad to hear that you are flyfishing! Thank goodness that the poison is still strong enough to keep you going. Well done!
As you have mentioned that you were using a size 8 charlie, the hook's gap maybe too small for a solid hook up for the bigger fish. The lips of the peacock bass are properly thicker than the gap's width. We employ hook sizes 2 - 4 for peacock bass fishing. We dont use smaller hooks than these as the smaller peacock bass will get hook up too. When you hook up a smaller bass, the bigger bass are on a look out too. The smaller bass would accidentally become your 'live bait'.
I use a size 2 most of the time and the smaller bass hardly gets inself hooked on it and thus has less chance becoming a 'live bait' on the hook. What I am aiming for are those bigger bass and not the smaller ones. I also use Owner Cirlce Hooks size 2 for my peacock bass flies. The circle hook ends up around the lips most of the time.
It also depends where the hook embeds in the mouth of the fish. In the softer part, the size 8 would not have much problem but as for the harder part of the jaws, the hook might just be scratching the size walls and not penetrating deep enough for a secure hook up.
Like what nymph has mentioned, debarb the hook.
Both of us fish barbless and have been quite successful with this method. It is also easier to remove the hook from the fish. If the barb is still on and the hook finds its way deep into the mouth, the presence of the barb could be damaging in this situation. You dont want to hook yourself too when removing the hook from the fish if the barb is still there. Even our lures are debarbed.
"It is better to lost a battle than wasting a fish."
The above are just my personal opinions.