Dealing continues with a second down card and it finishes with each player getting a third card face up. This last card is referred to as the "door" card. In stud either the low or the high card showing must make the first wager equal to the low end of the limit. In a $1-$4 game the opener has to be at least $1.
Once the betting begins, the players, starting from the left of the opener, can fold, call or raise. Many people will not pay much attention to starting hands in stud but they are important. If you start with three of a kind, you have a very good chance of winning the pot. Three to a flush gives you a lot of good chances too.
Pairs are okay but they do need to improve. You will also need to consider pot odds, probabilities, etc, but what we have gone over gives you a basic starting point so you understand what starting hands are needed to get involved in Stud pots.
Remember that the poker basics still apply in Stud like reading the board, bluffing, avoiding mistakes, etc. Playing Stud is still enjoyable and it still has its place in the poker world. Pot odds, card odds, and implied odds are important but often it is tough to keep track of all of this.
You should be able to keep track of the cards that are out though, especially since you can see them. 7 Card Stud is one of the older poker games out there and while it doesn't have the popularity of Texas Holdem, it still has an audience. Playing 7 Card Stud will give you a couple of advantages over Texas Holdem.
Usually if you are Stud player you are in the minority and that usually gives you an advantage over everyone else. Stud has qualities to it that are different than Holdem and when you matchup against Holdem players you will definitely have an advantage.
Although Stud games can be more difficult to find, they usually will offer the strong player a lot of good opportunities because the players are weak. The poker boom has give Stud some new players and most don't know the game very well.