When not to make a continuation bet

[maddo]

PokerStars No-Limit Hold'em Tourney, Big Blind is t50 (9 handed) converter

MP2 (t1585)
MP3 (t670)
Hero (t1710)
Button (t2240)
SB (t2355)
BB (t1745)
UTG (t1690)
UTG+1 (t1470)
MP1 (t2255)

Preflop: Hero is CO with J[img]/images/graemlins/diamond.gif[/img], 8[img]/images/graemlins/diamond.gif[/img].
<font color="#666666">5 folds</font>, <font color="#CC3333">Hero raises to t150</font>, <font color="#666666">2 folds</font>, BB calls t100.

Flop: (t325) 9[img]/images/graemlins/diamond.gif[/img], 6[img]/images/graemlins/club.gif[/img], K[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players)</font>
BB checks, <font color="#CC3333">Hero bets t150</font>, <font color="#CC3333">BB raises to t1595</font>, Hero folds.

Final Pot: t2070

I nearly always bet when I've raised in LP and I'm checked to, whether I've hit the flop or not. Often I'll take the pot there and then. But after the BB check-raised here when I had a nice flush draw and back-door straight draw I wondered if sometimes I could check to try and win a bigger pot. This would only be in situations where I have a great draw and a check-raise makes me throw my hand away. Any recommendations?

BTW, BB showed his hand after I folded.