Build and Runes
Lulu does not have any health sustaining abilities, so try to poke her down in lane.
The damage from Pix can be avoided by standing amongst creeps to intercept the damage.
She has a very low base mana pool and MP5, so Lulu can often run into mana troubles early on if shes spamming abilities to often. If she is OOM early in the lane, abuse her before her high mana-per-level kicks in.
Try not to get baited by her ultimate. Watch for level 6.