Factor 1 – Position
If someone has opened the pot, you first need to determine their likely range of hands. If they have been open-raising a lot, you can call or reraise (the more preferable option at these later stages) with more hands than you might against a player who has been folding often. If you are first to act, your main consideration should be the remaining players left to act after you, their stack sizes and the probability that they will fold. Obviously all of these are moot points if you are dealt a strong hand.
Factor 2 – Your opponent’s stack size
It’s also important to make note of how many chips your opponent has before deciding to play a hand with them. If the player who has opened the pot is relatively short-stacked, chances are they won’t fold to a reraise, so you need to understand that before playing back at them. The same could be said for a big stack who has you well covered. They very well could put you to the test for your entire stack, so before reraising them you need to determine their likely actions.
Factor 3 – Your starting hand
This will probably seem obvious, but certain hands play themselves at this stage. If you have a hand like A-Q and have opened the action and a player has put you to the test, you’re going to have to take your chances and put your chips in. The probability is that you are either ahead or facing a race. You shouldn’t be folding hands like A-Q when you are four or five-handed unless you are 100% certain your opponent has you dominated, and it’s hard to ever be 100% certain in poker.
Read part I
Read part III