laying no limit 5 card draw can be very nerve wracking. You will basically be stealing pots from each other by bluffing until two or more players catch a strong hand at the same time. When this happens you will usually see a medium bet, than a raise followed by and all-in. The no-limit 5 card draw tables tend to stick to the small limits so the quality of the players is quite low.
The action at the tables is usually pretty wild with many bluffs and semi-bluffs. I do not consider no limit five card draw to be a very profitable game, its more like playing 1 card showdown. You can use any strategy you want but if you catch a straight and another player catches a flush, you will basically lose your stack right then and there.
This doesn’t mean that you should just sit down and start calling the blinds with any hand. Only play strong starting hands and try and feel out each player. After a little while you will notice who bluffs occasionally and who bluffs a lot. Once you have this figured out try and steal a few pots by making otherwise bad calls with medium strength hands.
There isn’t really much more to say about no limit 5 card draw strategies, but if you want a real good tip, stick to the fixed limit or pot limit tables.