EE is like ED for diablo
Enhanced Effect = same as Enhanced Damage or Enhanced Defense
Weaps = Enhanced Damage
Armor = Enhanced Defense
Charms = Enhanced Damage or Heal if heal charm.
Use highest EE weapons for your lvl possible. If you get a decent one with EE then it can last you 5-10+ lvls.
So just kill until they get harder. Then upgrade weapons/armors/charms.
Charms I would use highest Str or Dex Possible. Lifesteal is a nice bonus mod or Maxlife
Armor I would use Highest Str or Dex Possible. Lifesteal / Enhanced Effect is a nice bonus mod as well.
Its a basic setup but good for fighters/barbs if you melee.
Dex= Critical Hits (High Random Dmg)
Str= Damage (More str the more Dmg)
I try to keep str/dex about the same lvl if its 75 Str I try to do 75 Dex. (depends on what gear you use)
so if your charm is 40 dex and armor is 50 str then use 10 stat points into dex to make up for the 50 Str.
Thats just the build I used and worked well. My gear was dual stat so I had str/dex on charms/armors so it helped aout alot.
If you have anymore questions just PM me I will try to help

P.S. Critical Strike = same as Dex So if you got a charm with 30 Dex and 5 Crit Strike you actually have a 35 Dex charm