Skilled players certainly know Ed Millers short stack strategy that is based on the statement short stack players have a definite advantage comparing to full stack players. The strategy you’re about to read is based on Millers one, but it’s more detailed and provides additional information and gives you a guiding concerning your steps and bankroll building in various situations like the one when you get free folding equity.
For those who don’t know folding equity is that value you get in case other players at the table fold. A short example will help you to understand this better. Let’s say you play applying your short stack strategy. Your current bankroll is $5 while the total bankroll of your opponents is $50. You get QQ and choose to go all in preflop and two other players call. Later one of these two followers makes a bet on the flop while the others prefer to fold. So the only one player remains and you win the hand against this opponent. However if third opponent haven’t folded, you’d lose. So in this situation your folding equity is that hand that had been forced to fold by your opponents continuing game, but that would have won in case of call.
Now let’s move back to modification of a short stack strategy by Ed Miller.
Start with 0.15/.25c tables and buy 20xBB. In case your stack is decreased up to 15xBB and lower, make another buy to 20xBB. As soon as you reach 40xBB, leave the table.
If in early position you get AKo, AKs, AA, KK, QQ or JJ, and the preflop is 8-10xBB, go ahead and select “all in”. Also select “all in” on preflop reraises. In middle position select the abovementioned strategy (all in on preflop reraises and on the flop) in case you have AQo, AQ or 99. Finally, in late position follow this ‘all in’ tactics in case you add to your hand KQs, AJs, 77, 88, ATs or AJo.
When you find yourself in so called “Big Blind” situation and do not have a good starting hand in an early position, make your decisions carefully. If no one makes a preflop raise, choose to check as well. In case one or more of your opponents make a preflop raise, bet only in case you have something really good, for example, two pairs. Also check pot odds in this situation and call only when pot odds are better than average.
When you have raised preflop and don’t yet hit the flop, and your opponents check, go “all in”. In case your opponents have already made a significant bet, your decision should be determined basing on the current situation. In general, the advice is the following – do not be afraid of folding.