Okay so I just joined today and have spent a few hours now reading. I also jumped onto other sites to learn the basics on AM as a lot of what I was reading here was like a foreign language. i'm better now and can follow some of the posts 
Here's what I've come up with now
1. Don't try and reinvent the wheel, there are plenty of people making good money already out there and the pie is large. just follow to begin with and pick up some crumbs.
2. First step is to sign up with 4 - 5 affiliate managers
3. Once approved, chat with the manager assigned to you and ask them what offers their top affiliates are using and what traffic source they use.
now is where I am a little stuck (i'll keep searching though) I have seen a few people mention spying on competitors??? how does one do this? and how does one find the top affiliates who are using the offers recommended by the affiliate managers?
Any help would be appreciated, thanks guys.
Hi there! Welcome to STM.
Spying varies depending on which traffic source you're planning to use. If you're doing adult or POF, we have spy tools you can use right here at STM!
If you're going for a different traffic source, let me know and I'll advise the best tools for the job.
As for finding the top affiliates through spy tools: you can't, really. However, what you can do is look for ads and landing pages that have been running for a long time. If they've been running for ages, chances are they're making decent money, or they wouldn't be continuing to pay for them!
Sorry to jump in here but what tools for Bing would you recommend for spying? I currently use iSpionage and find it great but I haven't really found a way to spy on other affiliates rather just big name companies. (such as seeing their keywords and landing pages) Perhaps I am missing something there I haven't thought of. Any further insight would be greatly appreciated.
Thanks!
What Runs Where will let you spy on Bing ads, and it'll direct you to landing pages if present. It's a pretty good service if you're doing search ads - I used it a while ago.