Regular link is submitting your site to web directories without having a link back. (one-way link) Reciprocal link requires a link back from your site in order to accept your site to be listed in directories.
Regular link: It's a one way link for example: Website name: A Website name: B "A" is having link from "B" but "B" does not have...this is one way linking. A<------------------B Reciprocal: Both "A" and "B" linked to each other. A------------------->B A<-------------------B Hope this will help you...
And just in case no one mentions it - one way links carry quite a bit more weight SEO wise than reciprocal ones. Not saying pass up reciprocal opportunities, but focus your efforts on one way links
One way links are my site ------------------->>>>>> to your site Reciprocal links are my site ------------------->>>>>> to your site and your site ------------------->>>>>> to my site
You surly want to stay away from reciprocal links unless they are from a huge site and try to get only one way links to your site, the search engines rate them much higher.
Regular link is like only We have put Our Link in other Directory and Sites and reciprocal link is Tow way link, like in Your Site You Put My Link I Have put Your Site Link This is Reciprocal Link.
Reciprocal links like A site linked to B and B site linked added to A. Regular links like A site linked on B but B site not linked on A - One way linking. Example articles submissions, Directory submission, Social bookmarking, Blogging and Forum posting etc.
Regular link or one way link building is the most suitable way to enhance your website traffic. Reciprocal link building is the two way link building in which someone is going to put your link in their site and you are going to put the link in your website i.e.link exchange.
Reciprocal Link exchange is exchanging links between two sites, regular Link exchange is only one way link!