In Texas Hold'em poker your chances of winning are directly proportional to your knowledge of the game's statistics and strategies. If you know and understand the game better than your opponent, you will play at a higher level and reap the appropriate rewards.
1. Chose Games in Which you Have a Large Edge Over your Opponents: You may make more money playing higher with a smaller edge over your opponents. But, if you chose that formula you should make sure you have the bankroll and emotional stability to accommodate the higher downswings you will actualize. Keep in mind that the best game is not always the one with the largest pots. Rather it is the game where you have the largest edge over your opponents. Finding the best game for your ability and bankroll on a day to day basis is the most important poker decision you will make.
2. Compute the Price on All your Plays: This is an important concept in all plays and also will help you develop feel. When analyzing a play, count the bets AND the expectation you will gain/lose form them. Think in terms of expectation NOT money wagered. When considering a call from a hand you think likely to be second best determine the IMPLIED price you are receiving from the pot. This includes the chance your hand will win, the propensity (include texture of opponents) of winning extra money over what is already in the pot, the true price of the call including the possibility it will get raised behind you. When determining if you should call without the best hand take into consideration the chance that the hand you are drawing to will not be good. Even if there is a small chance that your hand will not be good, you must increase your odds required to make the call considerably.
3. Adjust your Play Based on the Money in the Pot: The larger the pot is the more you should play your hand in a manner that protects your hand. This includes taking more risk in an effort to protect your hand. Winning a big pot without competition is not a bad thing unless your hand almost cannot be drawn out on. The smaller the pot is the more correct it is to make trap plays that gain you extra bets. That is because the bets have more value than the size of the pot that is current. This concept is huge in no-limit and pot-limit games.
4. Take your Position into Consideration: Always take your position into consideration when determining a play. This includes the position to the bettor and the texture of the players to act behind you. Having an accurate feel of this will add great value to your poker game. Great levels of information can be accumulated when your opponents act before you do!
5. Bet Draws if you Might not get Called: You should almost always bet a draw if you think there is a chance you could win the pot with a bet. When you bet a draw you give yourself another way to win the pot if everyone folds, currently or subsequently. Also, you might win a bigger pot if you make your hand. It also has deceptive value and makes you a much harder read.
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