Best way to play Twisted Fate is to not play Twisted Fate. Outclassed in both AP and AD fields.
But if you insist, AP is better.
Best build I usually see is Doran Ring > Boots > Sheen > Doran Ring (only if youre having trouble staying afloat) > Lich Bane > Deathcap
Then go from there. Incredible burst and a great farming nuke. But he is PAPER THIN. And no, building Rylai or RoA early won't actually fix that, it just cripples your output and makes you more like CONSTRUCTION PAPER THIN.
So his key to success? Outside your lane, avoid ever engaging alone unless you're supremely confident in your kill then escape route. Have infallible map awareness and team communication so your Destiny doesn't go to waste. And lastly, sit at the back of the fight, engaging last. Yes, even after your AD carry. Chances are they have an escape, you won't.