That is really the best strategy. Any bike can be stolen, but if you make it more difficult to steal than the next bike, the thief will just take the easy way out.

For example, my dad chains his car up. He parks it in the parking garage where he lives and it has been stolen in the past (different car - they burned that one). So he has this long chain that wraps around a pillar of the garage, and he locks the car to it through the towing eye. Now, somebody could cut the chain, but wouldn't they just steal the other car next to it instead, all other things being equal?