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You're spot on Fnord. I saw this post a day or two ago but I didn't have the time to commit to a reply. It seems as though you beat me to a lot of what I was going to contribute with.
One thing I would like to add on something that works for me in a sense of profitability is consistent play.
Before you write off what I'm about to add, I am not referring to what can be confused with bet when you have it, and fold when you don't. I'm talking about consistent bet sizing.
With the wonderful power of position and playing fearless (not ruthless) you can really exploit a lot of players when you are not scared to lose. If you play as a scared player then you need to work on that before reading on....
As Fnord stated, in the right position with a good table image 10/2o can be just as powerful as AA.
But what I am talking about is BETTING EVERYTHING THE SAME. Valuebet, valuebet, valuebet!!! If you flop a set - valuebet it. If you flop the nuts - valuebet it. If you flop Ace-high - valuebet it. If you flop a royal flush - valuebet it. Just keep being consistent. AND SHOW NOTHING. But also keep in mind that in order to make this a profitable strategy, you have to be prepared (as a mindset) that you will get raised. And you also have to be prepared to throw your valuebetting bluff away if you're blasting the pot with air. If you are able to range someone and know they aren't playing with the best hand don't be scared to fire more than one bullet at them.
By adopting a strategy like this and bluffing 15% of the time you will get a lot of action on the other 85% because players will see you bet all the time and start to play back at you. It's only then when they have done so and you are able to range them etc that you can extract maximum value from them and felt them in a blink of an eye.
Make sure that all your hands tell the right story though. Be consistent with what you are doing and make sure that your actions are making sense. This will prove invaluable to you when your playing a hand perfectly to be chasing a flush for example and when it comes you represent it. To get a better understanding of this, think about the hand that you played where you had a made hand and you bet someone out of the pot. As good as what it is to actually have a made hand in this scenario you don't necessarily need it to win.
Also, try and get some of your strong hands to showdown. What I mean is if you know you have your opponent beat, slow it down a notch or two so the other players can see what you've played (this time). Always keep them wondering.
Oh... and don't forget to switch gears either. When you feel comfortable start playing the opposite of how you just did. Start to check/call, check/raise, check/fold. Call a bet on the flop with nothing, to see how someone plays against you on the turn.
Always mix up your game! And remember, throughout this post I have not mentioned a single thing about playing the cards you are dealt, but adopting a strategy that is profitable.
What I am getting at is that a lot of players will be very unsure about you and wont quite know if you had them beat or not and this is where we bluff only when it is appropriate and pick our spots very carefully because players will start to play aggressive towards you and this is where we love flopping a set/straight/flush/AA preflop/whatever and knowing you've got them beat.
Psychologically beating someone into the ground is the best exploit of all. Break their weak little minds and take them for all they have on the table!!!
On a side note, I have used this strategy for a while now and I have found to be the most profitable (for me).
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