May I heartily recommend
the limited resources podcast!
Great guys, a lot of really great knowledge there, but here's lessons from old uncle Chris:
-There's (99% of the time) no card powerful enough that it makes your deck better than being in the right colors will (Ie: Grave Titan is good, but the 5th black drafter at a table with grave titan is way worse off than the lone green drafter, even if green's worse)
-Signaling is something that gets talked about a lot and can help in practice, but is less necessary than you think. In essence, if you see a card that's really good late (Say, 5th+ pick) then presumably the deck it goes in probably isn't being drafted. This gives you the information you might need to abandon your early picks. (Really? 5th pick lightning bolt? Maybe I should be in red). This applies less when the card is really Niche (Say, Wildfire. "Nobody's in...red...control?") and less still if the effect is replaceable (Say, if there's 5 lightning bolts in your cube)
-There's a balance between drafting the deck you have in your head and staying open enough to know what to do when those exact cards don't show up. This just takes practice.
-If by some miracle of god you have the choice between two really sweet cards, take the card that leaves you more open, since drafting by nature is based off limited information. The chances that Lightning Bolt makes your maindeck are high as long as people around you don't elbow you out of red. The chances that
Bogardan Hellkite makes your maindeck have the same caveots as bolt, but you also have to be ramp.
Dragonlord Atarka is just as limited as Hellkite, except in addition to someone on your right being in red, they could also be in green and muscle you out.
In particular, useful episodes of Limited Resources are:
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301: UBER Theory: this is how to draft a control or ramp deck, as they tend to bleed together in limited, since rampant growth aren't that dissimilar in progressing the game towards the later stages.
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296: A Fundamental Approach to Limited: This is the corresponding episode on so called CABS theory (Cards that Affect the Board), ie: How to draft Aggro/Midrange
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86: The Top Traps of Limited: a list of mistakes people make. Don't play 1/1s for 1, don't play anything remotely resembling
cranial extraction, etc. Not the most applicable to cube, but certainly useful.
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265: Legacy of Limited Resources: Yes it's the dreaded anime clip show, but there's a lot of useful bookmarks there that I've probably missed in this summary
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248: Quadrant Theory Revisted: Possibly the most important thing here, this is how to figure out how cards preform in their average case (The most important case). If you ever catch me talking about Early/Win/Lose/Even, this is what I'm talking about
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226: ROTTY and Application of Tools: Yeah, more bloody acronyms. Being Rotty is "Results Oriented Thinking", ie basing your decisions on what happened this time, not what should happen. There's a whole podcast here obviously, but it's summed up nicely in weather you should take an even money bet that someone will roll a 1 on a D20. You accept, and they happen to roll a 1. THIS SHOULD NOT CHANGE HOW YOU BET IN THE FUTURE, AND HUMAN BEINGS ARE SHIT AT IT.
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214: Common Mistakes: Similar to the Traps episode, but a bit wider. This is more about drafting general strategy than specific horrible cards to avoid.
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189: Mana bases: I know a bunch of people who agonize over the correct 17 basics, this should help