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Your "nut camping" process is by far, I believe, the most effective way to make money in the lower stakes. Stay discipplined, hit up all the signup/reload bonuses and you'll find yourself sitting pretty.
I would suggest pokertracker and pokerace HUD as well. I will argue that reads aren't very import so much as cards in this level. Players are far too unpredictable to be waiting around for reads. Use the numbers, play as many tables as you can and wait for cards. Also, get bonuses by playing lots of tables and you'll triple your BR in a few weeks.
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