I have often heard that you should be more aggressive with a big stack, but whenever I get one I usually just end up playing the same as I would with an average stack, i.e. basically waiting for a good hand to put my chips in. Whenever I try to get more aggressive, I end up just blowing a lot of chips more often than not. The only difference in my play is that I may be more inclined to make thin preflop raises, and I might limp or smooth call preflop with drawing-type hands.

I think the problem is that I don't have a clear understanding of what specific strategies can be applied to "exploit" your big stack. Maybe we can get some discussion on this theme.

When I get the big stack I typically play hands I normally wouldn't. Connecter cards and suited pockets are both decent hands to play now that you have the big stack. Even though you have the big stack it is still important to play conservative. Knowing when to fold is the key to poker, no matter what stage of the game you are in.

When you get a big stack early, you should generally start seeing more flops, but seeing them in position is key. Towards the middle of the tournament, you can then use your stack to bully the players with average stacks. Do not mess with other big stacks or short stacks, unless you have a good hand. Seeing flops in position against average stacks will really allow you to bully them, as they don't want to risk too many chips and fall below average.

That being said, when bullying you also need to have been paying attention earlier so that you have some sort of read on your opponents. If you know a guy doesn't bet on the flop unless he hits, then it's probably not a good idea to call or raise him with TPWK/MP.

and bullying generally means solid raising preflop to put decisions on the middle stacks without the information the flop gives them. then if you meet resistence preflop you can get away from the hand without significant damage to your stack, compared to their damage if they call and fold the flop.

You want to make a resteal hurt too much, which is why you have to avoid short stacks and other big ones. Also pay attention to how much excess your stack has over the other big stacks...those are "cheaper" chips to spend than if you are close to another big stack.