You can look on page 2 of the Sovereign accessories sticky to see a few pics of both my water and land rig to see that, and there is also a few pics there of how somebody else wraps his coil on his GT for other ideas.
The primary thing IMO is to get the cable as far away from the coil as fast as possible. For me that means I run it straight up to the shaft at an angle (roughly it meets the shaft like 4 to maybe 6" up the shaft, secure it there with velcro tightly so the cable in the air between the coil and where it meets the shaft several inches up won't be flopping around with coil movement.
In the water this is even more of an issue, because if they cable isn't tight between the coil and where it meets the shaft say 4 to 6" up or whatever on the shaft, IMO you are asking for a short in that cable right above the coil as the cable keeps moving back and fourth due to water resistance.
In fact, I'm even thinking in my water rig I might run the cable straight across the top of face of the coil tightly and directly to the shaft base on top of the coil, secure it there good, and then tightly straight up the shaft until I coil it behind the grip. In the water even if the cable is tight but still in the "air" going from the coil to the shaft like 3 to 6" up it or whatever, that part that is hanging out in the open like that I think is going to maybe move back and fourth with your swings through the water, and will eventually lead to a potential short right above the coil where it the cable enters due to stress that can't be relieved by normal coil cable length moving around. Such as is the case with a hip or chest mount.
Not much risk to a short in the cable going from the machine to your body. That 2 or 3 foot of cable has plenty of length to flex and bend and avoid putting stress on any one area of it. It's that last little bit right where it attaches to the machine where the stress is born out due to no cable wire past that spot to move and flex and take stress away. That's why it's important to loop the cable a few times loosely when hip or chest mounting right before it travels on to the control box.
But for land, I don't think from the coil to the shaft is going to be pushed around in the air, so I just tightly run it at an angle through the air right to the shaft to get it as far away from the coil as fast as possible, and then I go straight up the shaft with it without wrapping it, and I only then wrap it once it passes the hand grip, so it's coiled around the shaft in the wrist/forearm area of the shaft on my side of the grip.
Now, for my water rig, I'm still trying to figure out what to do with the contact point of the cable where it leaves the shaft and begins to travel to my chest mount. I'm worried with continued movement/stress put on the cable right where it meets the shaft there I might develop a short in that spot. For that reason, I think I need to also loop the cable in two small loops right there lightly, so they can give and take as conditions warrant and not put any stress on one small area. Same way I loop the cable twice at my chest mount on the Minelab bag, as it has a loop hole for this, and it needs to be done as small as you can but staying rather loose, because you want those two loops to flex and move and not put pressure on one tiny length of cable. That's my thinking anyway...