A position advantage is money in your pocket. You range should widen when in position to advantage of the statistical advantages provided by position. This doesn't mean AJo is all of a sudden profitable to a raise, or anything crazy like that but depending on stack sizes, it could well mean 67s is. Position is critical in cash games, in tournaments, in SNGs. Whenever someone begins to describe a poker hand to me, I ask "but wait, what about position?". It's a key facet to playing like a professional. There are 10 positions at the poker game. The worst are the blinds. You almost always lose money in the blinds - a true testament to the failure of an overly loose strategy.
Then there's "UTG" which is so bad I try to plan my smoke breaks around it. A few spots of early position are followed by middle position, and then the Hi-Jack, the Cut off and the Button. The button is a pretty awesome position and a massive psychological and statistical advantage. Be wary of changing how you play significantly, as most players discount any action from a player on the button. Of all the justifications fish make, "playing position" (as in he was just "playing position") is always a favourite in terms of justifying a loose call. The Hi-Jack, the second best spot on the poker table is on the Button's right.
In position you will be able to evaluate your opponent's hand strength with much more accuracy than he will yours. He has to act before you, giving off a lot of information that can be known about his hand and allowing you a chance to control the action. This ability to act after will also allow you to draw more because you will extract more when you hit. You must still be careful as the odds against hitting a flush are 5:1 or so on the river, and you will seldom be given those odds in a big bet game.
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