A reciprocal link is a mutual link between two website. Example: A and B have websites. If B’s website links to A’s website, and A’s website links to B’s website, the websites are reciprocally linked.
Reciprocal links help you in two ways:
1. They increase your web site traffic, from people who click on the links at other website.
2. Reciprocal linksĀ can boost your rankings in search engines (google), because google ranks website based on the incoming links to them.
Looking at that, the best way to do reciprocal links is to find website with high PageRank and same topic as your website. You can save time on finding high the PageRank website using this tool: http://www.seochat.com/seo-tools/pagerank-search/