I think am pretty successful with building links, but recently I read on few sites that google and other search engines can detect 3 way links ? How bad is punishment ? I am ranked #1 with few sites and really don't want to lost this status. What do you think about this?
yes, SEs can detect 3 way links but its just lot harder and takes them more time to detect. if you are ranked 1, then you don;t see any penalty yet. best to do one way link building but sometimes there could be few good related sites where you want your links and if you can get a 3 way links from there, by all means do so. worst case, you will not get ful credit for the link if 3 way linking is detected by SEs but i doubt there will be any penalty
Just get 1 way link, forget about 3 way link... one way back link from relevant place will help u more than that...