Hey, I'm new to poker, maybe 10-20k hands, and overall have lost money. I started learning from scratch. Played at a friends house for the first time a couple months ago and was so interested by the game I went online. After losing my fairshare of buyins, I bought/read some books, joined several online forums, and now playing microstakes can consistently win.

One thing that confuses me though is equity.

How do you define equity as it is used in poker?

How do you calculate equity (figure what you equity is in a pot)?

How do you incorporate equity in to your EV?

Thanks a bunch