For me the basic strategy is trying to trap 5 numbers out of a larger group of numbers. I use a chart that places the 39 numbers in the order they last hit and use numbers that are in the sections of the chart that hit the most so I'm analyzing the chart not the numbers. How many numbers depends how many numbers it takes to consistently trap at least 3 or 4 numbers and maintain a budget where the win expectations are not lower than the cost of the wheel. A 14 number 3if4 wheel costs $19 so consistently trapping 3 numbers and an occasional 4 is very important.
The 5/39 Pick-5 game I play, pays $300 for 4 out of 5 and $10 for 3 out of 5 and I noticed NC's game is pari-mutual and 3 out of 5 only paid $3 last night so my playing strategy of using 3 and 4 hits to keep me in the game waiting for the jackpot to come to me wouldn't work very well there.
I worked with a guy that played $3 a draw using the same three numbers on all his tickets and he may have used darts for the other two numbers when he won the jackpot. You might try first deciding which type of playing strategy fits your budget and go from there.