Personally, I skipped all the way to Book 10, Morgoth's Ring and Book 11, The War of the Jewels.
The whole of the HOME series is a chronicle of Tolkien's evolution of the stories in the Silmarillion and Lord of the Rings. Lost Tales contains some of the earliest drafts of the Silmarillion, and as such some of the ideas and concepts are very different to the published stories in the book. As Morgoth's Ring and the later HOME books contain material written after he completed LotR, the material is fresher and less contradictory than the earlier HOME books such as LT.
I do feel as though you can jump about in HOME though, reading the bits of most interest first. In a way, I treat them as reference books rather than novels.
Hope that helps.