The tactics a nerd uses when all he does is stay home on saturday nights and study combos in fighting games. If you aren't a geek obsessed with video games you may not know how to defend against these cheap tactics, and you will be called a "scrub" or "n00b" or other words used by lifetime virgins. When playing online, these people will do moves that require fast reflexes to counter, however since there is lag, you can't counter. So they just keep doing it over and overexploiting the weakness of online play.
Not relating to money; someone who is cheap is usually extremely cheesy, arrogant, and easily made fun of. Examples include Bill Paxton, David Hasselhof, Lieutenant Dan from Forrest Gump, or anyone who thinks they are the shit but really isn't.
Also known as cheesy, and used in video games (particularly fighting games).. denotes deliberately repetitive tactics (e.g. repeated use of a particular special move, or just hitting the buttons repeatedly).