It's recommended you always run trailer tires at max sidewall PSI. If your 1550 has load range B tires, then 35 psi is good. If you have load range C tires, then you should run them at 50 psi.
Reason is, the tires are designed to carry a certain weight capacity, but that weight capacity is at max sidewall pressure. That weight capacity significantly decreases when tire pressure decreases, so you can overload the tires with less pressure, increasing the chance of tire failure.
Unfortunately it being bouncy is just the nature of a single axle.
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2007 T-286SR Cherry/Granola, #6236, original owner, current mileage: 9473.8 (as of 6/18/21)
1997 T-2653 Blue Denim, #5471
1979 12 1/2' MC, Beige & Avocado, #4639
Past Sunlines: '97 T-2653 #5089, '94 T-2251, '86 T-1550, '94 T-2363, '98 T-270SR
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