Tips for growing strawberries in hanging baskets?

I don't have much ground space but I've got a sunny south-facing wall with room for a few hanging baskets. I thought strawberries could work really well there — easy to pick and hopefully out of reach of the slugs!
Has anyone grown strawberries this way? I'm wondering about watering (they seem to dry out fast), what compost to use, and how many plants to put in each basket. Any lessons learned would be really helpful!