Yes, that is correct. Another important concept is to know whats hot. So if sevens hit the flop three times in a row, then you should definitely play the next hand if you have a seven, cause there's a greater than usual chance you'll make a pair.

Also, you should always play your rush. If you win 3 pots in a row, you should play every hand until you lose one. I have won monster cash playing with this secret strategy.