Very helpful Longy thanks. Getting a wee bit frustrated at these stakes at the mo. Played about 1700 hands, full ring & 6-max about $105 down total at the mo. It seems at this level there's about 25% pure donks, 25% tightys (but can't let go 2-pair at showdown or AA-QQ post-flop), 25% nits and 25% decent players. I feel the only way to make some money is to get in cheap against the donks and tightys with speculative hands, hit and try and stack them.
Retrospectively, for the hand above, I see I didn't have enough info on opponent to figure out how he played, it's just very tempting to try and stack these min-raisers even with junk. Anyway got PT3 up and running so hopefully after a few thousand hands I'll have some donks to track down. In the meantime I'll try and fold junk even to a min raise.
Anybody have any legit strategies at this level to make a profit?
I play a lot at .15/.25 and .25/.50 and have done for ages cos they just seem like a license to print money (not much money, mind you, but a few hundred a month and that's fine and dandy by me). Winning strategy? Er, well first I play at OnGame rather than Stars/FT etc. - divide your 25% of decent players by 1000 and you have about the right figure for decent players that seem to frequent the OnGame micro-stakes tables.
Secondly, I think it's a fallacy to play the 'everybody limps/minraises at this limit so I should try to see as many flops as possible with any old crap' game. You're just spewing away those 25 cents to hit miracles, which often won't get paid anyway because you're not in big enough pots for the other players to get frisky. I set myself a rule ages ago, 'try not to play unraised pots, and try to be the raiser in the pots I'm in'. This changes a little when you and your opponent are deepstacked, but as a general rule it seemed to do the trick and plugged my major leak, which was playing limpy poker and calling minraises 'on principle'.
ABC poker works best. Forget about bluffing. I play 5-max only, fire up 3 or 4 tables a time, and just play the cards as they come. I raise and 3-bet a lot in position, c-bet like 80% of the time, rarely cold-call, and play super-tight OOP. To be honest at these stakes I don't think you need to do any more than this to sustain a 4BB+ winrate.