I had a situation a while back I wanted to get some feedback on.

I had two low suited connectors ( think the high was like a 5 or 6) and I'm pretty sure I was on the button and saw a free flop. Flop gave me 4 to the flush and I hit the flush on the turn. I made a very large bet because I was worried about someone else now having 4 to the flush and having a draw for a larger flush than mine. I managed to chase the other guy out, but when he folded he showed a made straight. I kinda kicked myself - if I have stayed in and the 4th suited card didn't hit I could have probably made some decent money. On the other hand, if the 4th card DID hit, I would have had a hard time betting or even calling for fear that he hit the flush and possibly could have folded the better hand.

What are your ideas on playing in such a situation. Did I do the right thing?

Better to win a small pot then to lose a big one.

Sorry - I said that wrong. I was in the big blind and saw a free flop, not on the button.

Heres how I see it. You are not going to pick up big hands like this all the time, and I would rather win a big pot here. When you made the flush on 4th street, I think maybe a medium sized bet was in order. You want to get paid off with this hand, so why scare out the competition. If another card of that suit came, you could re-evaluate the hand and get rid of it to a big bet on the river. If the river seemed to be no help for anyone, you could make a bigger bet and maybe you will get even more money in the pot.This way, you either win a big pot or lose a relativly small one. Making a big bet on the turn will most likely just win you a small pot.

My take on this: do it mathematically! You have your made flush and let's pretend someone else has the Ace, that makes 6 of that suit in play and 7 left in a deck with 45 unseen cards. that makes him a little worse that 6:1 to hit. So you bet maybe 1/4 - 1/2 the pot, making it a negative EV play on their part to call. So I agree with helmuth, a medium sized bet on the turn and check/fold or check/call if the last of your suit comes in.

NoManner's right... I personally bet a third of the pot in this situation.

In early position like you are, I may even check it hoping to check-raise, and dump it if a 4th of the suit falls. I had to do that in a tournament before.