Okay so as a complete newbie to POP marketing (but not IM) i'm slowly ticking the boxes to get a meaningful campaign running.
But i'm stumbling on some of the very basics... it's time I reached out to the experts and hope you have a moment to help 
Quick overview:
Traffic: 50onRed
Tracking:
Spying: Boxofads
Hosting: VPS
Provider: Affiliaxe
Landers: Custom php (i'm a web developer)
I spent time learning how to setup the tracking from 50oR to
The process seems to be working fine, however i'm coming across the same questions each time so need to master the fundamentals of targeting and bidding before I setup a 'proper' campaign.
Here's what I did:
1. So I setup a 50oR US desktop campaign, and set the bid to $0.01 (minimum bid). Set the targeting to RON and watch a test run of $10 disappear very quickly with 10 clicks and 1 conversion. Great fun to look at but not exactly useful.
2. I also setup a 50oR US desktop campaign that targets a suitable 'category' (not RON). The bid is set to $0.01 again. I sit there and watch nothing happen at all, until after a while it says 'Below Smart bid $0.033'.
3. I also setup another 50oR US desktop campaign, this time targeting some related keywords to the industry. The bid is the minimum again at $0.01. Again I watch as nothing happens.. until it comes up with 'Below Smart bid' of anything from $0.08 to $0.38!
Given that my target country is the US, and the payout is around $1 am I approaching this all wrong?
I simply don't know the way to approach targeting and keyword bidding to see if a campaign is viable.
Clearly my headless-chicken approach isnt going to work any time soon! 
Would love some advice from you seasoned pros on the basic approach to targeting and bidding.
All the best, Tim