I think I've played enough practice poker play to come up with a basic strategy that works for me at least at the 5/10 No Limit w/ $300 Bet limit Cap per hand.
I experimented with generally staying in until the flop as long as it wasn't too expensive. This was I could see if a poor hand might turn into a full house, or three of a kind or even 2 pair. But honestly I seemed to over all lose more money that way that if I promptly folded poor hands. Sure I'd lose out on the occasional good hand but there were plenty of really good hands to be hand without the so-so hands costing me extra money.
Criteria for staying in (not folding)
- a pair
- at least one face card or an Ace
- both cards same suit (potential flush)
- both cards sequential or nearly so (potential straight)
Criteria for staying in for the Turn card and the River
- Is there a better possible hand?
- Is someone betting like they have it?
- How expensive is staying in?
If there's some moron who's going in all the time even before the flop just sit out till they run out of money & go away. If this doesn't happen in 5 minutes go to a different table. Telling them to knock it off via chat sometimes works.
If I clearly have the best hand and it's only the flop, lure other bettors in gradually. Bet 10 to see who wants to play. Then next round bump it to 70-100. Those with a semi-decent hand will be tempted to continue. Now they've invested something in the hand. Go All-In. Wise players will fold, but once one has sunk that much money into something it's really hard to do and if one player calls, you will often get more than one and you walk away with a very nice pot, and folks are either impressed or making amusing comments about cooking the chicken in a pot or both. (Yoshi uses a chicken as an avatar.)
Though if it's only the flop, you can lose as there are still two other cards to be dealt. You really have to watch out for potential full houses as they beat regular flushes and straights. If you've already All In'ed then you just have to accept it which is why it's nice to wait till the River before an All-In.