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I'm not that experienced, but this is what I do.
1) I only bluff when the board indicates I could have hit something, and I am in the pot with only 1 or 2 people. I never bluff with 3 people or more in the pot no matter how tempting, chances are somebody has hit _something_ that they think is good enough to win.
2) I also try to take in to account their previous table record (are they tight/loose/passive/aggressive) and of course their chip count. My raise of 200 chips might seem a lot to me, but it could be peanuts to them and they'll just throw in a call to see what I had. On the flip side, if I'm willing to bet so many chips when I have so little - perhaps they think to themselves "he must have something to bet so much of his little stack". Or, they might think "he's hardly got any chips left, he's just trying to steal this". If you have many more chips than them, they might perceive you are a bully and decide to stand up to you. Etc etc. This is why I don't like to bluff very often...!
3) If I think the other person is bluffing, I don't call their raise. I re-raise. If they are bluffing, they will usually fold at this point. If they call or re-raise again, they have either spotted your double bluff or they really do have a good hand. Either way, it's time to get out. This is one I use when I think people are trying to steal the blinds - say the blinds are 100 and 200. You are the BB. Everybody folds, last person to act raises to 400. If I think they have a habit of bluffing, I will re-raise to 800. They fold more often than they call, if I've read their play right, especially as I'm a tight player so they (hopefully) think I'm re-raising with a good hand.
4) If I bluff and lose, I will usually not try it again on that table because everyone will remember. However this works in your favour too - wait for a good hand and hope people assume you are bluffing, resulting in more callers and a bigger pot for you to take.
I expect somebody more experienced will come along and correct/add to this, but that's how I play at the moment.
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