I think OP's strategy for short stacking is pretty valid.. I normally buy-in to a 2/5 game on a short stack and just.. wait..
Lol that's right I just sit there and wait for good hands because that's all you can really do.. I think your raising ranges are fine OP although I normally play 88/99 as set mining hands or mini over pair hands if there are limpers in front of me
I will also limp behind with suited connectors or small pp or Axs if I have decent position and there are limpers in front of me.. Sometimes I open limp with these if the guys behind me are not too aggressive
Overall game plan is of course to flop top pair/over pair and then bet bet bet until you're allin.. draws with 10 or less outs I normally just call and try to hit and draws with more outs I'm inclined to raise and get it in (obviously player and situation dependent)
Overall I think short stacking is a fine strategy to play a game that you're not quite rolled for.. just make sure that you STICK TO YOUR PLAN and don't tilt off your chips from not getting hands.. oh and as someone mentioned earlier, there's a bunch of variance - so accept that and just roll with the punches
Btw it's really nice to score a 1k+ win in 2/5 when you only buy-in 300
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