NB on Live low limit play: play fundamentally sound poker. It’s dangerous to make moves assuming “online” play like three betting. Don’t assume that villians now that KQ has “no value” under the gun. Extract value: raise or fold, bet 70% of the pot, hope they call (ABC fundemental poker). Don’t assume others are thinking along the same line you are. It’s easy to figure out based on terminology (“I keep getting three betted” or words like “range” signal online player). Assume everyone is idiots until proven smart.
Two axis — how often you bet, how often you call. Can get a good feel for villain by which box they fill in.
TAG: “bet when you have good, fold when you have bad when good hands”. Solid ABC, recommended play in limit. TAG will be winners most often.
LAG: “bet when you have good, willing to call a lot, see a lot of cards” LAG could be a winner if they pick spots and play a lot of TAG opponents enough to draw them into playing Tight Passive (TAGS who tilt against LAGS can often turn into exploitable rocks waiting for nuts).
Tight Passive “fold when they bad hand, check when they good hand, bet” This is sub-opitmal play.
Loose passive “when you have they will call your bets, but when you have hand, they let you see draws”. Virtually no on way bottom right is playing poker.
>M ratio. Effective stack/(blind+ante). Example: 6–12 with 240 buy in, effective stack is 240/18 = 13.3. Percentage of you stack that is blinds or ante. How many rounds of poker can you survive if you fold every hand or how important the blinds are to your stack. If blinds are a small percentage of your stack, then blinds don’t matter and what happens preflop matter much more. If you are small stacked, then preflop matters more.
In live and tournaments, most of your value comes from playing optimal preflop. It’s screwed up less online than postflop. Can get close to Nash Equilibrium (no one can change their decision profitably).