You should always hold these: royal flush or straight flush, 4 of same kind, 3 of same kind, 2 pair or full house. But, with 3 of same kind, chuck out the rest of the 2 cards for your chance at 4 of same kind so that the full house options keep open, & with 2 pair, chuck out the 5th card for your chance at full house. Also, it's good to break up straight or flush only while you already have 4 cards to a Royal flush. In other words, when you've a jack or king or queen or Ace or all of the clubs, you should check out the nine for an opportunity in the huge pay off for ten of clubs. It still leaves a wide open possibility for a flush along with any of the club, straight with either of the ten & a jack pair it's better to go with any jack, king, ace or queen in video poker.
You ought to break your pair of jacks and good if you are having 4 cards to Royal flush or 4 cards to low straight flush. Also, keep low pair rather than keeping an individual high card like jack, king, ace or queen. You should not draw to 4 cards within straight - the one where missing card happens to be in the centre instead of being at either ends unless in all probabilities it has minimum 3 high cards. 4 cards with open straight have open space on either ends for completing the hand; e.g. Hand of four-five-six-seven could use either three at 1 end or eight at other end for completing the straight.
As you get familiar with the fast strategies of video poker, you might want to go ahead to some variant that is a bit more complex and sophisticated but at the same time very accurate and precise. Very similar to the fast strategies, some of the hands are left unbroken. So obviously, if the player is lucky enough to deal royal flush, he ought to hold all the 5 cards and need to wait for the payoff. For such large payoffs the screen will flash with "Jackpot" or may be "Winner!" For such special cases, the winning amount is paid to you by the staffer or attendant and not the machine. Also, you need to keep in mind that you don't need to put in more coins or play next hand unless you get paid for Royal flush as it is said in video poker tips.