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Here is how I play my blinds in NL ring games. Do these guidelines seem solid or are there leaks? I'm especially interested in comments my SB play, since I probably play much looser than I should from there.
In an unraised pot, I will complete from the SB with any ace (though I'll sometimes pitch Ax offsuit), any "20" (i.e. K10), Q9, J9, J8, any decent suited connector or semiconnector, any pocket pair, Kxs, Qxs, and in a pot with 4 or more limpers, offsuit connectors and semiconnectors. Also, with only one limper or heads up against the BB, I will call with just about any two cards, and will rarely raise, even with monster hands. With all the connecting hands and kicker-trouble hands, I am just looking to hit the flop hard (big draw or two-pair or better), and I will play very cautiously and have no qualms about laying down top pair if anyone's showing strength.
I will stand normal (3-5xbb) raises in the SB or BB with AQ or better plus any suited "20" or "21." I will usually call with any pocket pair, though if it looks like it will be heads up I'lll muck the small pairs. If it looks like it is going to be a volume pot, I will call a raise w/ Axs or suited connectors hoping to hit the flop hard. I will only reraise with AA or KK (or possibly QQ, JJ, TT, and AK if I'm heads up and am sure I have the best hand and won't mind getting it all-in or getting the other guy all-in if he comes over the top). If it looks like it's going to be heads up, I will often just call with AA or KK to try to trap.
In unraised pots, I will raise (either 4-6x BB depending on # of limpers) from either blind with AA, KK, QQ, and AK (though I often will just complete or check w/ slick). If there are not many limpers and/or I feel like some action I will also raise with 88-JJ to make the limpers w/ overs pay to outflop me or try to take the pot right there.
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