Question on position
Let's say you're dealt 55 in late position on a fairly normal 10NL table early in session, no stats available. Your intention is to steal, set mine or just raise 3x BB. I know this is "officially" the right way to think, but what if someone raises from say mid-position ahead? Do I automatically 3b (to 9x BB or whatever), as I know odds
of hitting a set is 12.5% or whatever. A 3xBB raise from me should be good in the long run, either it's a steal or someone calls and I hit the set 12.5% of flops. In the long run, this should be profitable.
So, to summarize, pocket 55 late position, intention of raising. What if:
1) Mid position raises first, do I 3b? Or call?
2) If I 3b, and he 4b, do I always fold?
Guess this goes for any mid- to low range hand, should I only raise if noone raised before me? The reason I am asking, is that if not... then position wouldn't be important. The only upside (if not intending to seeing the flop as cheaply as possible), would be to CB the flop (without hitting) and induce a fold.
Any other input in possible circumstances would be widely appreciated. Thanks!