For powder, I like to use the Pyrodex pellets. They come in 50gr. and 30 gr. pellets. They make loading so much easier. I also like the Powerbelt bullets. Now, make sure that you get the 45/50 pellets if you're going to use them. .45 caliber/50 grs powder. They also have a 50/50 on the market. Make sure you don't get these. .50 caliber/50 grs powder. As far as bullet weight, that's up to you, just bear in mind that though a heavier bullet will have more KE it will also drop faster and may not reach as far as you want it to go. The lighter bullets will go farther, but may not have the umph to get the job done once they get there. So, go out and shoot 2 or 3 different grains, in powder and bullets and see how it works for you. A good starting point would be 100 grains of powder and the 225 gr bullet. The next step up is 275 gr. and the step below is 195. Again, mind that you get the bullets for your .45 caliber, as there are more .50 cal products on the market, it can be confusing.
OK...I'm done...I'm out of air!