Bluffing is an integral part of all games of poker and is especially important in 5-Card Stud. Most pots are won by just a pair, often a low one, and if you are brave enough to represent a high pair you can get paid off.
If you have a high card showing in your starting hand it is often the case that a bet there and then will be enough to win the antes, regardless of what your hole card is. What do you have to be aware of though is that other players will know full well that pots are often won by low hands and in Fixed Limit games in particular it will be hard to shake off somebody who has already made a pair.
The game though is made for bluffing and those players with nerves of steel, who watch their opponents, see which cards are still live and pick just the right moment will find that their bluffs stand a very good chance of success.
If you've reached 4th Street and are showing three suited cards or three connecting cards then this too is an ideal moment to test the waters with a bet. If an opponent is already showing a pair, especially a high one then you should probably reconsider a bluff at this stage, but otherwise don't be afraid to try. When you bet or raise you have two chances to win the hand, either by making the best hand or forcing your opponents to fold. You need to always remember that.
Should you get caught bluffing then consider tightening up for a while after that and only betting with a strong hand. If you do that then you may find an opponent who thinks you're bluffing again, the next time you bet, and you could get paid off handsomely with your good hand.
As in all games of poker, the art of successful bluffing is not the amount of times you attempt it, but choosing the right moment. If you do it too often your opponents will simply not believe you and you'll start to get called or re-raised. This is as true in games of 5-Card Stud as in any games of poker.