Generally, I buy in for 25 big bets and have 15-25 in my pocket in case I hit a bad run. So for 1/2 that's $50 on the table and $30-$50 in reserve.
Strategy: Don't cold call raises unless there are callers between you and the raiser. 3-bet or fold.
Play very tight for an orbit or two to get a feel for the table. If its passive and 6+ people are seeing the flop, you can limp any suited connector from any position. In most limit games you can limp 22-66 in EP, but if you're 2 or 3 off the button and its folded to you fold/raise those hands 70/30 or so. Not enough implied odds in those cases.
If people play passively and call alot postflop but don't take the lead much, suited connectors are better than small pairs. The opposite is true if the table likes to get jiggy postflop. Then small pairs are better since you'll fold on the flop if you don't flop a set.
Play AA like a monkey. Play KK like a slightly more mellow monkey. In LP, fold AQo to an EP or MP raise, but 3-bet the CO and maybe one seat to his right or if the raiser is on the loose side.
Don't think "its only one more sb to call" That's the classic big bet player mistake in limit. Limit is about making fractions of bets on repeat mistakes and avoiding the same.
Make your big laydowns preflop and your loose calls on the river. Bad limit players do the opposite.
On the flop, unless you've flopped a big draw, either raise or fold. The raise is to protect your hand and/or clean up your outs (ex. You limp on the button with A3s. 6 way pot for 1 sb. Flop comes 8-5-2 rainbow, one of your suit. Checked to player on your right who bets - you raise to drive out overcards, Bigger guts like 97 and AT-A4 and maybe get a free look at the river). limit is about incremental increases in your equity. Once every session or two, you'll hit an A after doing that, take down the pot and the guy who folded a bigger A will get annoyed. I love that.
Disclaimer: The above is trimmed down and hardly complete. Unlike NL, which is about winning whole stacks, limit is about squeezing out an extra bet here, saving a bet and a half there, etc.
Oh, screw it, just beat McEvoy.
