I played in $1000 guarantee tournament on UB. This was my first tournament to play in aside from STTs.
I was 2nd in chips for a while but as I started to dwindle I made a risky move by going all in on a flush draw. Actually I was AK suited and highest card was a 9, i think, so I figured I had 15 outs unless someone flopped a set, two pair didn't look likely. I caught my flush. Opponent had pocket tens
Then once I was in the money and the shorter stacks would go all in (and I had an enormous chip stack) I would call with any Ace with a reasonable kicker. So I call an all in with AJ, which I happen to think is a dumb move but with my chip stack I wasnt afraid, okay maybe a little. He shows pocket Jacks so I knew i was far behind, worse than a coin flip actually but I got lucky and hit an ace.
Not sure if this is a coinflip or not but the chipleader is at my table and has been playing pretty aggressivley. He raises it to 3000. I forget the blinds but it's a huge raise, blinds cant be higher than 400. I have pocket 9s so I call. Flop comes out 9 8 2 so I move all in and he calls with QJ, gusthot straight draw. He was no longer chip leader after that. I kind of felt sorry for him because he had to have been feeling pretty good being chip leader all this time and now is just a minutes away from being blinded out. But he made a horrible call. Even if I had a pair of 2s he's behind.
I make it to heads up and I dont care if I get second or first, both prizes are pretty good and I consider heads up a cointoss, especially the way I play. I still have about 80,000 in chips and my opponnent has about 15,000 so I put him allin with my 8 5 off suit. He calles with Ace 4 offsuit and I catch a 5.
In my case I had a huge chip lead and wasnt really afraid of coinflip situations. I wasnt afraid of losing, but afraid of doubling people up. But I got lucky a few times, and sometimes thats what it takes.
I'm not an experienced tournament player but I figure do coinflips when you can afford a loss. In my case I had a dominating chip lead. For a while I had about 3x more than the 2nd place chip leader. However I wasnt a complete idiot and call all allins especially against someone in the top 5 or so that would take a huge portion of my chips, unless I had AA KK or QQ.
There's also the saying "always leave yourself outs".