Originally Posted by alan
What Nino said is true because he highlighted some of the points that are particularly important in NL as compared to limit holdem, when making the transition.
Implied odds is the most important concept that i find most struggle with.
I think the first thing to do is figure out what implied odds you need to break even. An easy way to do this at the table is to subtract the pot odds from the required implied odds.
For Example: Let's say you have a flush draw on the flop. The pot contains 20 big blinds (bb) and your opponent bets 20bb. The pot now has 40bb and you need to call 20bb, so the pot is offering 2:1 odds. Your draw will come in about 20% of the time on the next card so your odds of hitting the flush on the turn are 4:1. So the implied odds you need to make are 4:1-2:1=2:1 So when calling the 20bb bet you will need to make 2*20=40bb more when you hit to break even.
The hard part of course is figuring out whether you can extract the 40bb or more out of your opponent. Depending on your stacks, position, reads etc. a call may be a good, marginal or poor idea.