re: Poker & chasing at limit games
Limit is my favorite game, hopefully i can explain my experiences with draws and turn them into +ev for you.
If it is 1v1 in a calm non-raised pot with a draw NEVER chase, check/fold
If it is 1v1 in a raised aggressive pot - see first card for min, if miss - fold. If hit, raise that sucker, and get some 3-4 bets (these are your implied odds - this is the money maker)
If it is a multi-way pot in a calm pot - see first card for min - if miss, check / fold
If it is multi-way pot in aggressive / raised pot - ASSUMING no >2 bets and you have the stack for it, see all the way to river, then bet that for value to 4 bet on river (implied odds again here).
There are three things to keep in mind.
More people = more money = better for draws.
More aggression = more money = better for draws.
Raised pot = better pot odds = better for 4th st draws.
Biggest thing to not get caught in is drawing out when pot is being raised out of control - you dont want to call a 2-bet, and have it come back at you as a 4bet - you are committed to calling all of a sudden and this is a very - EV play.
Hope this helps.