My clothes line is something like the one in the pic at the link below.
http://www.onlinedirect.hills.com.au...ducts/A1604PAR
It's brilliant because it doesn't take up much space, but has plenty of hanging space, and folds down against the fence when not in use. You can buy ones that fasten onto a strong wall, such as the side of the house, or garage, so are virtually out of sight when not in use.
Don't use wire for a clothes line, unless it is plastic-coated. The plastic lasts for years and years and helps to prevent 'fold' marks and of course there's no rust.
I use plastic pegs, the extra large size. They last for years and years too and don't rust, even though I keep them outside all the time (in our hot and humid climate). I keep them in a plastic garden pot! Seriously. I punched some holes on each side of the pot and threaded through some coat-hanger wire - a length with a loop at each end. I faced one loop facing me, and another facing the opposite direction - that way, when the pot is hanging on the line, it doesn't get blown off on a windy day. The drainage holes in the bottom of the pot keep the pegs from sitting in water, and I've had no problem with rusting. It's worth it to pay a little extra for best quality pegs.
Because of disability, I have trouble ironing, so am careful to hang things in such a way that they don't show peg marks etc. For shirts and blouses, I hang them on the line so that the join under the arm is the place where the pegs go. (They are sort of folded in 'half' over the line.) For jeans etc, I peg them at the waist-line.
I make sure to bring the clothes inside as soon as they are dry, and hang or fold them immediately before they become too creased. If you leave things hanging on the line too long, they will fade more quickly. Usually, even a pair of jeans is dry in an hour or so in my climate, and I hang them out dripping wet - no squeezing or spinning, or they end up very creased.