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Avoid treating the whole pond whenever possible, and especially when it is still new. It takes 6-8 weeks to 'cycle', but it takes a year or more to get a mature biofilm that withstand treatments, etc.
It sounds like your koi has a tear in the fin, with an infection starting to set in. If that is accurate, the best treatment is to net it out, apply a topical and release to the pond. Repeat daily until the redness goes away. I would use iodine out of the medicine cabinet, or mercurochrome (sp?), followed by a bit of panalog. But, there are lots of topical treatments on the market.
If it is finrot, I'd place the fish back in your holding tank and treat with erythromycin or another common antibiotic. If fungus appears on the wound, I would also add Maroxy (a common aquarium treatment).
The best thing is to insure the little fellow's immune system is in high gear... good water (no ammonia or nitrite detectable whatsoever) and warm temperatures (75F or thereabouts) without significant fluctuations.
BTW, if you are testing for nitrite and nitrate, and both of those are "0", you have a way to go in cycling the pond.
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