I always go in with minimum buy in at tables which have huge blinds for me (for eg: I got 1m..then I will go to the maximum buy in table I can find (400k-4m) and buy in for minimum chips (400k)) but today I went in for all my chips and lost everything in a jiffy....with my previous strategy ...I keep on bouncing back (by thinking objectively when needed and subjectively when needed )but this maximum buyin strategy is very risky but still a lot of players follow this strategy , furthermore it boosts our ego....what is the broad basic strategy to be followed in such a situation ( refer to my example : buying in on table with 1m chips ( all my chips)
Taking for example (hypothetically) that you have 1m (play money) .either you should go with max chips on a table with 400k as max buy-in or you should go with minimum chips on a table with 200k Or 400k as minimum buy in (more skills are required including bluff if necessary and to fold even with good cards at same time...much faster win and much faster loss .. You have to maintain your patience in this table also depending on your opponents.
There is this concept: bankroll management. You can't enter a table and just sit down with all your chips, that's a real bad idea.
In general you might want to have 10 to 20 buy ins with your bankroll. Example: If you have 100 euro/dollar on your account, you should be playing on tables with around a 10 euro/dollar buy in. So if you go broke, you only lose a small proportion of your total money.
Now on the fact if you should buy in with the smallest or the largest amount on a table. This mostly depends on your play style. I like to buy in with as much chips as possible because I play pretty tight. So as soon as I play a hand, I can win more chips because my initial stack was larger (of course it depends on the villain's stack size). Example: Preflop I get AA, villain gets KK. I have 40 dollar (40 big blinds), villain has 80 dollar. If I go all in and win the pot, I can only gain 40 dollar. If I would have had 100 chips, I could have gotten his total 80 dollar.
Now BE AWARE!! The more you can win with this trick, the more you can lose as well!!
On the other hand, if you are a real small stack genius, then keep on playing with smaller stacks. Some people actually play better small stacked. The majority of the people however prefer to have a larger stack also because if they lose 1 hand with an initial of 40 blinds, they might be on 20 big blinds and that is not a good position to be in since your hand range would shrink immensely until you would have to push all in with any hand.