make GDI drawing more efficient C# -

at moment code takes 10% of cpus power. how can make more efficient , less flickerish? code:

private void timer1_tick(object sender, eventargs e) {     drawlocal();     thread.sleep(17);     picturebox1.invalidate(); }  private void drawlocal() {     int localreadx = readaddress("hl2", "client.dll+0xbfff00 364 0");     int localready = readaddress("hl2", "client.dll+0xbfff00 368 0");      byte[] bytesoflocalx = bitconverter.getbytes(localreadx);//converts float     byte[] bytesoflocaly = bitconverter.getbytes(localready);//converts float      float localx = bitconverter.tosingle(bytesoflocalx, 0)/10;//converts float     float localy = bitconverter.tosingle(bytesoflocaly, 0)/10;//converts float      graphics localp = picturebox1.creategraphics();     localp.fillrectangle(new solidbrush(color.red), localx, localy, 5, 5);      graphics localname = picturebox1.creategraphics();     localname.drawstring("  local", new font("arial", 7), new solidbrush(color.red), localx, localy); } 

the comments above, demonstrated below:

    private font f = new font("arial", 7);      public form1()     {         initializecomponent();         picturebox1.paint += picturebox1_paint;     }      private void timer1_tick(object sender, eventargs e)     {         picturebox1.invalidate();     }      void picturebox1_paint(object sender, painteventargs e)     {         int localreadx = readaddress("hl2", "client.dll+0xbfff00 364 0");         int localready = readaddress("hl2", "client.dll+0xbfff00 368 0");          byte[] bytesoflocalx = bitconverter.getbytes(localreadx);//converts float         byte[] bytesoflocaly = bitconverter.getbytes(localready);//converts float          float localx = bitconverter.tosingle(bytesoflocalx, 0) / 10;//converts float         float localy = bitconverter.tosingle(bytesoflocaly, 0) / 10;//converts float          e.graphics.fillrectangle(brushes.red, localx, localy, 5, 5);         e.graphics.drawstring("  local", f, brushes.red, localx, localy);     }