As with most everything else in poker, it depends. What's your position? What is the strength of your hand? Does it flop well multiway? How many in the pot? What is the board texture? Are you on a 60% equity hand or do you have the absolute nuts? I personally would never recommend slow playing medium strength hands, especially multiway. On the other hand, you want to get as much value as possible.
Its always a balancing act between actualizing your equity and denying others theirs. Its about considering what weaker hands can call and what stronger hands can fold. On the whole I don't like slow-playing or being too trappy, especially against decent players. I also cringe when I see people shove others off weaker hands and lose tons of value. You have to find that sweet spot in whatever game you are in.
Very welcome. I wish there was a more definitive answer. On the other hand, a lot of the intrigue of the game is that there isn't. The ways the top players maximize the value of their hands is fascinating to me. I can play the exact same hands vs the exact same players as a pro does but I am going to wind up with less chips than they will (over a large enough sample). Many hands pretty much play themselves but the best players will realize more value from them and lose less than us mere mortals. IMO, once you figure out the basics, this is where the real battle is fought.
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Good response. Plenty to consider. Thanks.