Folding
Learning the discipline of when to fold cards will save you a lot of money over the course of your poker career. A good player will fold far more hands than he plays and does so with the understanding that playing mediocre cards or cards out of position will only end up in lost bets.
Pre-Flop: Fold any cards that are not listed in the hand selection groups and ensure that you are playing the correct hands in accordance with your position. Note that it is acceptable to deviate from these groupings once you are feeling comfortable with the game and the types of players involved. This should only be done when you have the discipline to fold hands that do not improve on the flop or in subsequent betting rounds.
The Flop: Deciding whether or not to fold a hand on the flop is one of the most important decisions you will make during the course of each and every hand. This is because the strength or weakness of your hand is decided predominantly on how much the flop hit or missed you. You should only proceed with your hand past the flop if one of the following scenarios exists: You have a pocket pair, you have paired one of your two cards (preferably the highest), paired both of your cards and made two pair, flopped two cards to a straight or a flush, or have three of a kind. There are virtually no other situations in which you would call or bet if you do not have one of these holdings.
The Turn and River: It is important to understand that in most cases you should be deciding to fold pre-flop or on the flop. If you have flopped one of the hands described above, you are not going to typically fold on the turn as you probably either have the best hand or a very strong draw. One notable exception would be if the action were to become so intense or aggressive on the turn and you have reason to believe that your hand is no longer best or you are not getting the correct odds to draw to your straight or flush. On the river you should of course fold any draws that you do not complete but it is often incorrect to fold a made hand at this point even if you think that it may not be best. This is because the pot is probably large enough to consider calling one bet as your possible return far outweighs the cost of one bet. Note that this does not apply to a No Limit game where the bet could in fact be larger than the value of the total pot, making folding a much better decision.
Checking
Checking your hand is a play that has both advantages and disadvantages as it gives you a chance to continue in a hand without risking any more bets, but it also indicates to other players that you are potentially weak. You should often consider raising or folding rather than checking.
Pre-Flop: The only player that has the option of checking pre-flop is the big blind as every other player has to at least call the minimum bet or fold. You should often check in the big blind as normally your hand will be very average.
The Flop: Players should typically check their hands with the intention of folding to a bet if the flop has not helped them and they do not have a reasonable prospect of improving.
The Turn and River: It is often prudent to check the turn if the action has been heavy on the flop and you are unsure of whether or not to proceed with your hand. Often checking and then observing the actions of your opponents will give you valuable additional information regarding whether or not you should continue with your hand. On the river it is also acceptable to check for the same reasons, or to check with the intent of showing down your hand for free when you are unsure if you have the best hand or not.
Calling
Calling is very similar to checking in that it has advantages and disadvantages. Once again, you should consider raising or folding rather than calling. The danger in calling too much is that you are acting in too passive of a manner, which will make it difficult to define the strength of your hand. This means that often you will pay off better hands when you are behind, and not realise your full profit potential when your hand is best.
Pre-Flop: Call with any cards that are listed in the hand selection groups and ensure that you are playing the correct hands in accordance with your position. Note that it is acceptable to deviate from these groupings once you feel comfortable with the game and the types of players involved. This should only be done when you have the discipline to fold hands that do not improve on the flop or in subsequent rounds.
The Flop: Once again consider raising or folding as opposed to simply calling a bet on the flop, particularly if you have a made hand such as a pair or better. Calling on the flop is also appropriate when you have flopped a straight or a flush draw and are looking to hit your hand. Note that you will typically need more than one other player in the pot to make calling bets with a draw profitable. Typically having at least two to three other players in the hand ensures that you are getting the correct odds to pull for a straight or a flush.
The Turn and River: Calling can be the appropriate action on the turn or river with a made hand when you are unsure of the strength of your hand and there has been strong action from other players. This is also valuable when there are players still to act behind you and you are unsure of whether you may be re-raised or not. Once again calling on the turn with a draw is fine as you will usually have the appropriate odds with which to call a bet at this point.
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