Some tips I read which I didn't follow and wish I did now are:
Don't rush through sign up offers, spread them out over time rather than condensing in the first couple of weeks. The sign up offers will always be there and there's no advantage to rushing through them, leaving it a little while between one sign up offer and the next to concentrate on getting a regular punter profile with the bigger and better bookies by making mug bets for a while is a good idea. You'll get more reload offers if they think you are a regular better and reload offers are where the long term money is made.
Also, don't withdraw winnings immediately, try leave them in bookies as a regular gambler wouldn't withdraw straight away, again, appearing as a regular gambler is benefit for the reload offers.
To make tracking you money easier, deposit into exchange in one lumps sum, rather than per bet, it's keeps your bank statement tidy and is less confusing that dozens of smaller transactions.
I rushed through my sign ups, which meant I couldn't do mug bets as needed every spare penny in the exchange to do signup offers. Kicking myself now. I started on 23rd with £60 in betfair and £40 for deposits, and am now £140 in profit which I'm very happy with but kind wish I'd taken my time on sign ups, and didn't withdraw immediately. I'd still get that £140 profit but would have a better profile with bookies. I've got about 6 more sign up offers to do now and all of the risk free offers still to do but I'm going to concentrate on making my profile with paddy power and William hill look like a normal gambler.
Had a reload offer from William hill today so have £20 free bets :)
Just some general tips.
Keep a log of everything, bets, liabilities, where bet won, withdrawals etc. Esp if your doing several sign ups at once, there'll be several bets per day and it's easy to lose track of which ones were QB and FB and where the money ends up.
if you've taken more than a min to enter lay stake in bet fair, refresh before placing bet as odds often change and you wouldn't realise until you'd confirmed.