The drawback of this card is not cumulative, so if you activate multiple copies before your next Draw Phase, you will only skip your next 2 Draw Phases, instead of 4 or 6. The same principle applies to other cards that skip Draw Phases, such as "Offerings to the Doomed".
Similarly, this card can essentially make an opponent's "Time Seal" useless, as your next Draw Phase would have been skipped anyway.
Activate this card with Heat Wave to prevent your opponent from summoning a monster while your two Draw Phases are skipped, although since this will also prevent you from summoning a monster until then as well, you should summon a monster before setting Reckless Greed and activating Heat Wave your next turn.
If activating this card lets you draw another copy, Set it to activate it during your opponent's turn, to avoid getting any 'extra' drawback (as mentioned above).
If you are running a "Lightsworn" Deck and have very few cards left in your Deck, this card's drawback can save you in a pinch, by preventing you from drawing when you have no cards left in your Deck. Just be sure to activate it before your monster's effects make you mill your Deck.
This card is arguably best played in sets of threes, as it increases the chance of not only drawing multiple copies of this card, but also the speed at which you draw cards.
If you are close to winning but you need one or two more cards, play this card after your draw phase to draw the maximum amount of cards.
Avoid playing this card during your opponent's turn, as you will miss your next draw.
Though this card being chainable means you can still use it in response to many Spell/Trap destruction effects during your opponents turn, potentially forcing them to waste cards and effects while you still gain draw power.
Play this card towards the end of the countdown of Final Countdown as the next 2 draw phases won't happen if the countdown finishes.