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Hi,
I know exactly what you're talking about.
I play in a very similar weekly live game. I don't make a killing, but I am profitable. Some of the players I play with are decent, but many are horrendous. The tables are very loose and very aggressive. Here are my strategies :
1. Never slow play preflop ! In these games, you have no idea what you're up against - you really have to try to at least thin the field.
2. Play very tight early - fold A-Q in early pos - etc. I pretty much only play A-K or pocket pairs. I might limp in late with suited connectors or A-Q or K-Q - but they are gone unless I hit the flop very well. My rationale for this is that most hands get way out of control, with unbeleivably bad cards - and overbetting - by the time you play 3 hands, if they dont go well, you can be down 1000 chips !!! My only downfall is that I like to play pocket Pairs - looking for a set - I even call raises with them - which I'm beginning to re-evaluate. One game I got pokcet 7s followed by pocket 10s right at the beginning of a game - next thing I know I only have half my stack left All I need is one nice hand and I can double or triple up at this stage !
3. When my M falls below 20, I start to loosen up - usually a couple of players are out by this time and you can pick up the odd pot - but usually I'm in trouble at these games unless I get a nice hand. I'm afraid I can't offer much advice here.
4. Once the blinds get above 100/200, unless I have a huge chip lead, raising 3 or 4 xthe BB is futile in these games. I have had my chip lead broken down in the space of 3 hands having my raises called with crap by several players and losing each one ! Some players will call you with half of their remaining chips with unsuited connectors or any suited cards. This can be good, but when two or more players do this you can lose alot of your chips. I admit that it's not great poker, but from here on out, I just raise all-in - it gets a little more respect, and you don't have to worry about a crazy bluff - you know you are probably ahead , so you either win or lose . After losing so many times in this situation - I'm just thankful to get the blinds.
5. I'm not very good with tells and even if I were - how can it help you when a player truly beleives that J-2 s is a great starting hand ? What I do, however, is pay attention to player styles - and use that information to my advantage - I know who the calling stations are, who bluffs, who the maniacs are and who are solid. There are one or two players who are very aggressive when they are in the pot - I really think ahead if I'm in with them - you can double up but you can also lose alot of chips. These simple reads can save or gain bets here and there .
Martin
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