The best strategy for the typical player is the "3 point molly."
Place a bet on the pass line. Once the point is established, back the pass line bet up with at least two times odds, and make a come bet. When that bet is moved to a number, back it up with at least two times odds and repeat until you have your point plus two other numbers covered with come bets.
This will give you the smallest mathematical edge you can create at any casino game.
As far as pressing your bets, I do not suggest you start pressing until you have made enough money to cover what's on the table two times. For example, say you bought in for $200. After three points are established, you have $90 on the table ($10 each on the pass line and come bets, plus $20 each on the odds). Start pressing your bets after you have $290 in your tray (in other words, you've made $90 to cover the money on the table, plus another $90).
After that, you can press however you want, but I suggest a "press and regress" strategy with your odds bets. For example, Say you start with $10 come bets plus $20 in odds. Every time you hit, press the next come bet that gets established by $10. Keep doing this two more times (3 in total) until your odds bet gets up to $50, then when you hit with $50 in odds, regress back TWO units to $30 in odds. Repeat until you 7 out. (So the next time you'd press up to $60 $10 at a time and regress back to $40, then press up to $70 and go back to $50, etc, etc). Before I started using the methods I use now, I turned $200 into over $1,000 on several occasions and am "up" lifetime with this strategy.
Good luck and have fun.
Professional Gambler living in Las Vegas.