A U-Lock is the best bet. A wire lock is easily cut, making your bike an easy steal. Take the U-Lock, and lock it to the frame, not the front tire. Locking to the front tire makes it so a potential thief can remove the tire and take the bike.
The best way to lock your bike is, as ncbowman says, to use a U-lock. Do not purchase one with a circular key, as these locks are susceptible to “bic-ing” which is picking the lock with a standard Bic ballpoint pen. Kryptonite and others offer high-quality U-locks that can be found in most bike shops around the country; often they even have theft insurance policies that come included with the purchase of their locks.
As for locking the bike itself, the most secure way is to remove the front wheel, place it next to the rear wheel, and loop the U-lock through the frame and both wheels, then around a secure object. If you are going to leave it there for a while, be certain that the object you lock it to is in fact secure, as many street signs, fences, trash cans, etc. can be broken or dismantled by a thief.
I forgot to mention that the saddle is also a high-frequency target of thieves. Use a cable that can connect to your U-Lock and thread it through the base of the saddle. Here you’re just buying time as the cable can be easily clipped with the right tool, but it acts as a visible deterrent as well. Another tip is to lock your bike on a street with LESS activity. Contrary to intuition, a thief is more comfortable with more people around, as he tends to disappear in the hustle and bustle. For more tips, check out this video:
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