Shot-taking strategy: how do you do it?

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I don’t really have a set strategy for taking shots in bigger games or tournaments, but I’m curious how others approach it.

When do you decide to take a shot at higher buy-ins?
 
Shot-taking is not about the fun alone. Many people are jumping into higher stakes when they just had a small win. I tried that thing once, I lost everything same night. It was a very painful lesson. Now I only take shots when I get a proper reason, not when I am emotionally high.
 
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