Between webmasters becoming annoyed by "link begging" campaigns and major search engines suspected of downplaying reciprocal links in their search algorithyms, reciprocal links are slowly becoming less common. But they're far from extinct, and they can still be useful. Hugo Guzman gives you some pointers on how to make the most of reciprocal links.
"Dear Webmaster, I was surfing through the web and found your site. It is a great looking site and an excellent source of information, so I would like to propose a link exchange…."
"Dear Webmaster, I am linking to your site at www.esofle.vsdfle.dflker.com/sdofiels.htm. Please reciprocate…."
"Dear Sir or Madam This is Joe Schmoe from Spamomatic Internet Solutions, Inc. Our site www.notrelatedtoyoursiteinanyway.com is currently a PR 5. We would like to exchange links…"
At this point you might ask yourself “Another damn link exchange request? Will the requests ever end?”
Surprisingly, the answer to that question is maybe.
99.9% of all webmasters receive these types of “link begging” emails. Some are legitimate requests from individuals who like your site or have a site that contains relevant content. Sadly, the vast majority of these requests originate from spammy bulk email campaigns designed to acquire links from any and every site possible.
Because of this overabundance of “generic” link begging, the golden age of “reciprocal” linking may soon be over.
Link Trading 
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