Fly the Team Iceshanty Flag! Iceshanty Proshop
All good info mentioned here. One thing I didn't see though is to ALWAYS set the hook when the fish is taking out line. That way you know the fish is swimmimg away from you so when you do set the hook it will be pulled around and into the corner of the fish's mouth. If you try to set the hook when the fish is stationary it could be facing you and it is easier to pull the bait straight out of it's mouth without getting a good set.
How big of a bait are you talking Poolshark? I use sucker and chub minnows up to about 8 inches and have never had to do anything but pinch some of their tail off. If you do this, it does not hurt them and it makes it so they cant swim with enough power to trip your flag.