Did I give up too early?

[B Dids]

Having a hard time finding the balance between staying agressive and just throwing away money...

Party Poker 1/2 Hold'em (10 handed) converter (http://www.selachian.com/tools/bisonconverter/hhconverter.cgi)

Preflop: Dids is UTG with 8/images/graemlins/diamond.gif, 8/images/graemlins/club.gif.
Dids calls, UTG+1 calls, <font color="666666">4 folds</font>, <font color="CC3333">CO raises</font>, <font color="666666">1 fold</font>, SB calls, BB calls, Dids calls, UTG+1 calls.

Flop: (10 SB) Q/images/graemlins/heart.gif, Q/images/graemlins/diamond.gif, 4/images/graemlins/heart.gif <font color="blue">(5 players)</font>
SB checks, BB checks, Dids checks, UTG+1 checks, <font color="CC3333">CO bets</font>, SB folds, BB folds, Dids folds, UTG+1 folds.

Final Pot: 5.50 BB

Results in white below: <font color="white">
No showdown. CO wins 5.50 BB. [/color

[Chris Daddy Cool]

I think you did give this up too early. I usually don't trust a flop bet by the last player to act, espcially with a paired board. My general line here is to call the flop bet and lead the turn.

[Rah]

It depends a bit on the table atmosphere, and especially COs style.
CO has a good position and could have been raising preflop with Axs, a low pair, AT, AJ, AK etc etc. Maybe even Kxs. Postflop he could be raising with a flush draw, and possibly trying a bluff since he's in position with acceptable pot odds and scary unraised board. He might have an ace, thinking it's the best hand.

Considering the pot odds and the possibility that you're having the best hand, I would reraise. If he's got a queen, he would reraise and you could fold. If he has a 4 (A4s for instance) or a flush draw, he would probably call and you would have the best hand.

Summary: Raise, and fold if reraised. If called, fold if another heart or high card falls and CO bets. Otherwise, you certainly have the best hand and may safely turn on the aggression.

[lil']

Bet the flop yourself. Chances are decent that guy just pushed you off the best hand.

[Rah]

Opening the flop is an option, but the problem here is the twoflush on the board. A reraise from the CO would be possible if the CO has either a queen or a flush draw. A checkraise would probably keep the CO from betting the turn/river *unless* he in fact has the queens or makes a flush.

If you lead out on the flop, gets raised and calls, it would be harder to figure out whether you have the best hand or not after the turn. A checkraise will give you more information from the turn and keep the other player guessing, while costing you the same amount. This is because the player wouldn't try to steal the pot on the turn if you check again, since he would be afraid of another checkraise.