There is alot of debate on dead vs. live bait.
I personally do much better with live bait (4-6" shiners). I've alteranted traps many times with live shiners and dead smelts or shiners. And live bait always outfished dead bait, sometimes 5:1. I've tried hanging dead bait 1' off bottom, layed em' on bottom, and just dont have much luck with it.
But there are ALOT people who swear by using dead bait.