Depends on what quality your beef is. My family raises beef in Missouri, so the only time in their life they've been off our land is for the short ride to the local butcher. My personal favorite is either a T-Bone or a Sirloin, around 1.5 inches thick. I like my steaks a true medium rare (not the overcooked medium well you'll get at a restaurant if you order medium rare). I like cooking with charcoal, the trick is be patient and let it get hot before you put the meat on. And if your steak was frozen, make sure it is thawed to the center. I like to keep my seasoning simple, with a light olive oil rub and a sprinkle of fresh black pepper and course sea salt on each side. The olive oil helps to get those attractive grate marks on the meat. If your steak is well marbled, you will have a juicy steak without having to soak it in oil or put lots of butter on top. Ideally, I'll give them a couple minutes, flip, couple minutes, flip and then another minute or two on the first side. When you pull them off the grill, let them sit about 5 minutes before you cut into them, as that'll help the inside keep cooking a bit without getting dry like it would if you cooked them longer. If you cook them this way, they'll be juicy, flavorful, and won't need steak sauce, BBQ, ketchup, or anything else on them. Just remember, if you want the best steak, you'll probably have to pay dearly for it. I wouldn't use this method to cook a discount steak though, because it won't have enough time to cook out the toughness.
I'd recommend finding a local farmer you can trust who will sell you a steer on the hoof and deliver it to a butcher for you. You can then have it cut just the way you want, and will get a slew of steaks as well as other cuts for about the same price per pound you'd pay for decent quality hamburger in the supermarket, and you'll know exactly where it came from.