A question which I can never find an answer too.
The subject, continuation bets. Basically this is a bet made after the flop lands and you havent hit anything. For example say you get dealt A J offsuit and you decide to play it. The flop lands and is, say, 3 6 10, all mixed suits.
Scenario 1: There is just you and one other person left in. You're first to act. You make a standard continuation bet of about half the pot, hoping the other bloke will fold. If he raises, you know you will fold. However, he doesnt do either of these, and instead just calls. The next card lands, and is equally useless (say a 7). What do you do? Do you keep on betting hoping to convince him you've hit something? Or is he playing a trap, and its better to just check, accepting the probability that he will probably follow with a bet which you will fold? I often find myself out of position after the flop, having just had a continuation bet called, and never know what to do next.
If you had position it'd be easier. He checks to you, and you make a continuation bet which is called. A bet from him after the turn can be folded by you without losing any more chips, whilst should he check you can check as well and take a free card, and then you have the luxury of leaving him utterly confused and having to act first (after which you can decide, based on previous experience of that player, whether to check the hand down or try and make a late move on the pot).
Scenario 2: The same as above, but instead, what if there are two other hands still in the game? First to act perhaps this is an easy check. The chances are of the three hands yours isn't good right now if you haven't hit anything, and even a continuation bet is more likely to meet resistance.
What about if you're second or third to act with multiple hands? If you're third against two other hands, would it be good to make a continuation bet and try and take down the pot, or do you just check through, take a free card, see if you catch perhaps a drawing hand and expect to have to do some sums with pot odds after a bet on the turn?
I only ask because i find it such a weakness in my game, and I don't approach making continuation bets with a definite strategy in mind. It seems to be random, and often with me based on how close I am to tilt. If i am calm and concentrating then I'm usually ok, but once I've lost my rag a bit I try and make stupid moves and often surrender a lot of chips very cheaply.