We investigate the power of wavelet techniques in detecting non-Gaussianity in the cosmic microwave background (CMB). We use the method to discriminate between an inflationary and a cosmic strings model using small simulated patches of the sky. We show the importance of the choice of a good test statistic in order to optimise the discriminating power of the wavelet technique. In particular, we construct the Fisher discriminant function, which combines all the information available in the different wavelet scales. We also compare the performance of different decomposition schemes and wavelet bases. For our case, we find that the Mallat and {it `a trous} algorithms are superior to the 2D-tensor wavelets. Using this technique, the inflationary and strings models are clearly distinguished even in the presence of a superposed Gaussian component with twice the rms amplitude of the original cosmic string map.