Here is some strategy tips for Liar's Dice, developped by our gaming group. Feel free to add your own.

1) The "No sweat" move. If a player makes an improbable guess, he yells "No sweat" while "sniffing" his underarm with a lot of confidence. "No sweat" moves be done very quickly, without hesitation. Succeding a "No sweat" move inspires admiration from fellow players.

2) The "Chicken" move. This move is done by all other players. If a player is hesitating (especially if seems to have a bad hand and the stakes are high), all players start making chicken noises while flapping their arms. If the player takes the risky guess, he can be considered lucky if his guess is successful, or laught at if he made a foolish manoeuver...

3) The Nico manoeuver (in the name of the developper of the technique). When the stakes are really high, you have a really bad hand, and you believe the preceding player will succeed with his bet, go for the stars! By calling stars at a moment that you are certain of failing, at least you cut your losses.