Power Pro or Sufix 832 and never look back. Spool it tight, I use #50lb on 4 5500's. I fished 13 hrs Friday with it and had no problems.

Using a heavier pound test, like lenahorse suggested will help you get started... that's probably the best single suggestion.

Other things you can do are
- Adjust your cast control knob a little tighter until you get the hang of it.
- Use a stiffer braid like Suffix Performance for a little while... after you get the casting thing down you can upgrade to a more supple braid like Suffix 832.
Also, one of the cool things about Suffix Performance is that it is one of the easiest of all the braids to get a backlash out of... i"ve tested almost all the different brands and that one is the best for someone to start out on. Does it cast as far as 832 or PowerPro Super Slick 8 or FINS Windtamer.... not quite.. but it's still a great line.

Without telling you to get a new reel, i'd have to say to clean that 5500 and only put 1 drop of oil on the bearings; Where the spool shaft runs through the drive gear that should be lubed with oil. And only put grease on SLOW moving parts like the pinion gear, drive gears, and drag washers. That real is going to have to be tip top to get the performance your asking out of it on a casting basis. But I think it's doable.

While you get started ease up a little and don't swing for the fences... practice and get on the water and get some casts in. You'll get it.

Starting out try #60, it will not 'dig in' on your spool. Don't try to cast too far, it will come, most problems arise from trying to cast to far and hard, honestly the Zebco braid at Walmart is a great starter line and not expensive.
Take a short section of dowel or broom handle 5=6" wrap a few turns of tape in the center, keep this with you! If you get hung up don't wrap it around your hand, it will cut you BAD! Use the dowel.

Be sure and spool your line on tight so it won't dig into your spooled line on the reel. Spool it with pressure (tension) on your line.

Did you put in a mono backing on your reel before spooling the braid?

All braids I had at 30# or under always dug in.

You should also lower the drag on your reel.

I don't use the mono backing with my spinning reels & I get more Power Pro 20# on the spool.

Did you put a piece of tape on the spool? That helps keep the stuff from slipping when bringing in a fish.

Take the rod out to the park and tie the end around a tree, walk it out until you have it all out, then reel it back in with pressure, enough to keep the rod bent. This will put the braid back on the reel tight.

Keeping a lighter drag on braid helps keep it from digging in. Which will give you better casting distance in the long run.

Dacron is good stuff, but it is hard to work with, usually is thicker than Deema braid also.

Bring it over to the house, with the empty spool and I can re-spool it for you, I have a "machine" that will spool it tighter.

The big problem is that you're using dacron on a bait caster. It just not a winning combination.

When you cast the spool accelerates faster than the weight/lure is taking out line, this causes the line on your spool to "fluff". When you cast the line doesn't come off of the top of the spool, it forms a slight dip and comes off about 30 degrees ahead of the top of the spool. The dacron is very limp and stays close to the spool, eventually the line coming off the spool gets caught in the fluff and you get birds nest mid cast. When you turn the reel sideways or upside down, you get rid of the dip at the top of the spool and it helps keep the dacron from getting caught in the fluff. Mono is forgiving, the stiffness of the line would pushes it away from the reel and give you a little room to work with.

To get dacron to work well you're going to have sacrifice a lot of casting distance.

You have to have a smooth cast.

Increase the drop of your weight when you cast.

Static mag your reel.

Increase spool tension.

Make sure all your brake blocks are in place and engaged, make sure that they are free of any grease or oil.

Try a heavier oil on your spool bearings.

Try a thicker/heavier line, the larger diameter of the line causes the spool diameter to decrease more rapidly than a thinner diameter line. Which means more revolutions of the spool to cast the same distance, which will cut down on the fluff.

Reduce the amount of line on your spool. If your spool is filled to the top remove about a quarters thickness, worth of line from the spool. Same as above, smaller spool diameter means more revolutions of the spool to cast the same distance.

Be sure that it is spooled tight.