[AndyS]

If you are going to be live lining for trout I say 6# test mono max. I do a lot of live lining for trout and never go above 6# test, I actually prefer 4# test mono. I stopped using strike guards a long time ago.
I found the best hook for live lining for trout is a Mustad 3906 thin wire fly tying hook. The hook is flat, not offset. When you set the hook it will not spin back into the bait but instead gives you a solid hook set, as far as size I have gone down as small as size 12 depending on the size of the bait and the biggest I go is a size 6.
Open bail, the bait with find the optimum water temp it wants, which so happens to bet the preferred water temp of the fish feeding on them.
Double anchor, bait and wait.
If the fish is gut hooked, DO NOT try to get your $0.06 hook back, cut the line as close to the hook as possible. The hook is thin wire with no bait barbs so it should rust out and fall out quickly.
I try to anchor up on a break or drop off.
Hope this helps.