Pot limit 5 card draw strategy is much the same as fixed limit strategy accept for the fact that bluffing and hand selection plays a much larger part. Position will be a major factor also when choosing hands. If you get dealt a pair of 77’s and there are a few players to act after you, than you may want to lay them down, especially if you know these players like to bet big.
The best PL 5 card draw players use a tight-aggressive strategy. What does tight-aggressive mean? It means that they choose their starting hands very carefully and only calling/raising the blind when they have a very solid hand. When they catch a strong hand, they usually play it very aggressively by making pot size bets and raising people that bet before them.
So, what’s a good hand to raise with? It all depends on the number of players in the game and how each player likes to play. Without taking any of that into consideration, I would say that a pair of 7’s or higher is a good calling hand, but if your under the gun and you have 3 loose players to act behind you might want to reconsider.
Bluffing in PL five card draw is a very common practice. When you catch a very strong hand it might be worth while to check after the draw and hope to bring out a bluff from one of the other players. You should also pay attention to what possible hands each player is representing. If a player takes 3 cards and checks after the draw, you can usually assume that he only has a pair or a weak two pair. Throwing a large bluff out there can be profitable but you are going to get burned every now and then. This is why it is extremely important for you to use the notes feature all online poker sites have to keep track of how each player plays.
If you throw out a bluff in the scenerio above and the player reraises you, you should make a note on how that player likes to slow play after the draw. Some players will never slow play on the draw and just like to bet-bet-bet, this you should also take notes on.
After a while you will become familiar with how each player likes to play. You might be thinking that they can do the exact same thing to you. The short answer is the generally don’t. Many players at the 5 card draw tables are Texas Hold’em players that are bored and want to try something new. Most online poker players never even use the notes feature either. There are a few who will be paying attention to how you play and taking notes and the only defense to that is to change it up every now and then. Maybe even show them your cards to show them you are bluffing.