It is tempting in situations when 3 players limp and you have QTo to just pop it and TBH I have done this pretty often. Problem is at micros anyway that a you see a lot of limp/calling and limp/re-raising and even worse donk betting on the flop. So 3 limpers come in and you pop it to 7bb. One player calls. Pot is now 17bb. The flop comes down JT9 and everyone checks. You have middle pair and a gutshot and position so you c-bet 9bb and get 1 caller. Pot is now 35bb. The turn is a 4. Villain pots it making the pot 70bb. You have 84bb. You now have to make a decision whether you want to play for stacks with middle pair/3rd kicker and an 11 to 1 draw or folding after pissing away 16bb.
Now some might say, why c-bet here? You have a lot going for you. Ok so you check behind and the 4 hits. Again turn is a 4 and villain pots it. Do you call or re-raise? If you call the pot is 51bb. If the river is an Ace and villain shoves then what? If the river is a 6 and villain pots again then what? Pot is 102bb, you have 70bb and need to call 51bb. Do you want to be in this spot??? If you fold you lost 36bb. These aren't hypotheticals, we've been there hundreds of times. Do this 3 times in a session and you have squandered a buy-in.
My interpretation of NLHE is that you enter a pot for two reasons;
- to steal the blinds & collect dead money in the pot.
- To get someone's stack.
If you are really, really good (like half as good as WV
) you might be able to navigate the Scylla & Charbydis of medium size pots but most of us micro trolls aren't there (or we'd be playing 50nl).
So if you see an opportunity to steal the blinds great but if it doen't seem like a great stacking opportunity then fold. That is why it is ok to open OTB with QTo but maybe not so good for most of us to raise multiple limpers with it.
But back to the meat of your question: From late position it really comes down to whether or not to play:
22-66
Small suited Aces (A2s - A9s)
ATo
KJo KTo QJo JTo
Some Suited Kings (say K5s-K9s)
Suited Connectors
Suited Gappers
And on the button:
Ax
K7o-K9o
some offsuit connectors like 98,97,87
etc.
If you can profitably play these hands then go ahead and play them. If you suck like me (and are like 5% as good as WV
)you fold them.