When I try and adjust the spool tension knob on my lews speed spool LFS baitcaster  my lure ether falls too fast or not at all can’t seem to fine tune it. I’ve never had this issue with any other reel. Any ideas why I’m experiencing this?

Try adding  a drop of oil to the bushing on the spool tension knob and maybe grease on the threads of it. 

Sometimes a dry spool tension knob bushing will get grabby and sometimes the threads for the knob wear down. 

2 hours ago, garroyo130 said:

Try adding  a drop of oil to the bushing on the spool tension knob and maybe grease on the threads of it. 

Sometimes a dry spool tension knob bushing will get grabby and sometimes the threads for the knob wear down. 

So just take the cap off and add a drop down in there?

On the inside of the cap there should be a bushing either black or metallic. Put a drop on the bushing. 

What does ur lure weigh? I set mine so they drop quick .use the mag brake and my thumb.

if the oil doesn't work give Lew's service dept a call those guys a some great people and will help you figure out why its not working like it should.

Are you turning a full "click" to adjust?  If so, that may be too far?