This is my first post at this forum. I've been playing .05/.10 limit hold 'em at pokerstars for about 3 months. About a week ago I started using Pokertracker. After 800 or so hands I auto-rated myself and discovered that I'm the quintessential fish: loose and very passive on all levels. However, I'm winning 14.9 BB/100 hands.
I know this is a very small sample and this win rate won't last, so I'm trying to understand Miller/Sklanskys' Small Stakes Hold 'em and transform myself into some sort of land animal.
Early in the book Miller talks about being guided by positive expectation. This all makes sense in the abstract, but I get lost when applying it. Here is an example from Miller:
Experts evaluate the expectation of calling and raising independently, and they
choose the option with the highest value. Say you have 5 opponents, and you
estimate that on average your AK will win 1 in four hands. To simplify the math,
assume your raise puts you all in. Therefore, raising risks one bet to win 5 (since
you have 5 opponents who must call if you raise). The EV for raising is =.5 bets.
Even though you are the underdog, raising earns more than calling.
I don't understand why my raise will be called by all 5 opponents. If only 3 call my EV is down to 0, and if only 2 call I now have a negative expectation. Actually, this is one major reason I have become a fish. Too many times if I bet, almost everyone folds. I usually check and hope someone else bets and I can call.
I understand expectation when I'm drawing: count outs-convert to odds- compare to pot odds- do the appropriate thing. But what if I'm holding AK and the flop is K72. I have top pair with top kicker. Probably the best hand so far. Do pot odds still dictate my actions?
If so, do I estimate the odds of KK holding up unimproved or do I fudge in some additional possibility of improving?
The more I think about all this the more confused I get! I really need someone to sit behind me for a few hours and slap me when I do something dumb. But that isn't going to happen, so I hope someone at this forum will take pity on me and try to help me understand what I'm missing. Thanks and good fishing.
George