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A Water Dragon Deck focuses on summoning the titular card, Water Dragon, and utilizing its effects to cripple your opponent whilst also inflicting massive amounts of damage. As Water Dragon itself is hard to summon, due to requiring the tribute of 3 specific monsters on the field for Bonding - H2O, it's often overlooked in favor of something more readily accessible. However, when used properly, it can be quite devastating.
While Water Dragon has potential in a lot of decks, it should be used to full effect for it's ATK reducing ability. Note that, due to its habit of affecting your own monsters as well, cards such as DNA Surgery and DNA Transplant should be avoided, otherwise it would render the entire deck pointless (Water Dragon would reduce its own ATK, thus making itself easy prey for a low-level monster your opponent is willing to sacrifice in a suicide attack).
While Water Dragon itself has quite an impressive array of statistics and effects, the same cannot be said about its two/three "components". While Hydrogeddon can search out copies of itself by destroying opposing monsters, there is a limit to how many it can search out (namely, you can only include a maximum of 3). Therefore, it might be wise to include Pot of Avarice to help replenish them after the first or second summoning of Water Dragon. Aqua Chorus and Symbol of Heritage can immensely help, as you will likely try to swarm the field with these cards, and Symbol of Heritage can also serve to special summon them should Pot of Avarice not be an option to you. Miracle Jurassic Egg and Babycerasaurus can also assist in searching out Hydrogeddon and Oxygeddon, as they're both Dinosaur-type monsters.
Water Dragon's second effect allows it to summon back the monsters used for its summon. Thus, you only need to return Bonding - H2O to your hand to re-summon it. In addition, Water Dragon can be special summoned from your graveyard as well. Therefore, Spell Reclamation will be a worthy card, to prolong the life of your Water Dragon. A few protection cards are also suggested, such as Waboku and Negate Attack, to ensure your monsters survive the remainder of your opponent's turn. Also, this can be very useful for many duelists, especially since only one Water Dragon is needed in a deck, freeing up space for other cards (which can also be filled with deck-thinners to speed up the process as well).
Because Water Dragon's effect can only affect monsters face-up, it will be wise to include Light of Intervention. This card serves two purposes: to allow Water Dragon's effect to go through, and to eliminate any nasty surprises your opponent will inevitably plan. However, this can be a double-edged sword, as some decks rely on face-up, defense position monsters. Despite that, Light of Intervention is needed if you wish to use Scroll of Bewitchment, which can immensely help, as it can change the attribute of any monster you equip to. It should go without saying, this can help you to get rid of a particularly powerful opponent when you declare "FIRE". As it only affects the target monster, it wont cause Water Dragon's effect to go out of control. Fairy of the Spring can also help return a few Scrolls of Bewitchment (Since you will only use one per turn and it will be destroyed before the battle phase ends, so the drawback of Fairy of the Springs is non-existant).
Because of Water Dragon's Considerably High ATK, you should focus on attacking monsters who's ATK is reduced to 0 by its effects, as it would effectively allow Water Dragon to attack directly. With it's impressive 2800ATK, this should allow you to win after about 3 attacks. Cards that can help this out are the three aforementioned cards (you can include up to 3 scrolls and 3 Fairies of the Spring, giving you a total of 6 chances at a FIRE monster.), Volcanic Queen and Lava Golem, and Final Attack Orders to ensure your opponent's monsters stay in ATK mode. Lava Golem can be especially devastating in this respect, as you can simply leave it on the field to torment your opponent. Mask of Restrict can also come in handy, as you have no tribute monsters in your deck, forcing your opponent to attack your monsters if they wish to get rid of Lava Golem.
In Addition, Lava Golem and Volcanic Queen can help rid the field of annoying/powerful opposing monsters, as they use the opponent's monsters as tribute. Lava Golem, in particular, is extremely useful as it can control your opponent's monsters if they swarm the field and can be used in the aforementioned way to torture your opponent. Volcanic Queen, on the other hand, can be used to quickly get rid of singular threats, such as Yubel. However, it runs the risk of your opponent turning it's effect on you, by sacrificing a card to do damage to your lifepoints, so it's best to destroy it with Water Dragon as soon as possible.
Because this deck focuses on destroying opposing FIRE monsters, Royal Decree should be included to prevent your opponent from springing the ever-popular Sakuretsu Armor on your dragon.
You can try having Des Counterblow on the field and attacking your opponent directly with Water Dragon to summon 2 Hydrogeddon and 1 Oxygeddon and attack directly with those for a total of 7800 damage. Usually,by the time you get a field like that,your opponent should have lost 200 LP already
The Main point of this deck is to inflict massive damage with Water Dragon through attacking FIRE or Pyro-type monsters. However, due to Water Dragon having 2800 ATK, most equip cards are somewhat useless, as are field cards. This is mainly due to the fact that you still need 3 attacks to claim a victory and, unless you can boost Water Dragon's ATK beyond 4000, it will always take 3 hits. Megamorph is not recommended, as it will half Water Dragon's ATK after the first attack. Twin Swords of Flashing Light - Tryce, on the other hand, can help. If you can get 2 FIRE monsters, or a single FIRE monster and no other monsters on your opponent's field, Twin Swords of Flashing Light can greatly cut your efforts (While it lowers Water Dragon's ATK to 2300, it will allow it to attack twice, bringing the grand total up to 4600 damage per turn.)
Another good strategy would be to use Destiny Hero-Diamond Dude effect to throw out Bonding H2O and summon Water Dragon with out having to send Hydrogeddon and Oxygeddon from the field
Due to the special summoning nature of this deck, you can include Mask of Restrict to considerably hamper the efforts of your opponent, as many decks rely on tribute summoning their top cards (this is especially true for Monarch Decks, which will be rendered useless due to this). As well, because of the focus on attacking FIRE monsters (who's ATKs will be reduced to 0), this deck can completely bypass stalling monsters, such as Marshmallon, and allow Water Dragon to make a pseudo-direct attack.
Note that while Water Dragon's effect would theoretically make it devastating against Volcanic Decks, keep in mind that Volcanic Decks are aimed at monster destruction, so Water Dragon's flexible revival might not be able to keep up. However, given you only need about 3 attacks with Water Dragon to win the duel, it is debatable which is better. However, you can tip the scales in your favor by including a few Dust Tornadoes, as Blaze Accelerator is a continuous spell card and, therefore, requires to be on the field after activation to be used. You can also use one of the lightsworns to try and get Water Dragon in the Graveyard, assuming you have everything you need in your hand.
The main difficulty of this deck is to get Hydrogeddon and Oxygeddon onto the field. You also need to have Bonding H2O in your hand. This can be avoided by using Destiny Hero - Diamond Dude's effect and cards that place it at the top of the deck. While high-drawing cards can help, as well as Double Summon, it can be annoying since your opponent will more than likely be tempted to use Lightning Vortex against your monsters. Also, getting the specific cards into your hand and on the field will be difficult and, considering Water Dragon itself is a dead draw, you should include a few Magical Mallets to put back the cards you dont need and try to get the ones you do.
Another drawback is the limitations of Water Dragon's effect of which to special summon its components. While it will activate should Water Dragon be destroyed by any means, it will not if Water Dragon is returned to your hand (which will effectively set you back to square one). Hence Light of Intervention and Solemn Judgment might help. In the same vein, this deck is also weak against Macro Cosmos Decks, as they can simply remove Hydrogeddon and Oxygeddon from play, cripping this deck's usefulness.