Originally Posted by Michel Z. Soon I will start my new site & would like to build traffic by doing "link exchange" for homepage only with mostly related sites! I don't believe so much in doing "link exchange" and placing links on "link page" for this purpose!! This will give me NO traffic, though it will increase "link popularity" in the longer run! Mainly, I am looking to build traffic through home page "link exchange" with mostly related sites as mentioned before!

My God, use a period, man. You write as though you're on crack.

Originally Posted by Michel Z. 1. What is your opinion here about my approach?

It's one small aspect of a marketing a site, and it will do it's small part.

Originally Posted by Michel Z. 2. How many links of "link partners" are still acceptable on homepage?

Well gosh, I suppose you could have hundreds. However, Google in particular supposedly divides your "PR power" among all the links. So a PR 5 site with ONE link to a related site is a BIG endorsement. A PR 5 site with 150 links to kinda-maybe-related sites is pretty much a washout. I've heard people mention "40 to 50" links as the most Google will consider valid. I dunno.

Originally Posted by Michel Z. Just send email to web master of site I would like to do link exchange with?

Yes.

Originally Posted by Michel Z. 4. The problem I also face is that most likely sites with a lot of traffic don't want to do homepage linkexchange with a site which doesn't have any traffic yet!!

Correct.

If it were me, I'd simply start adding the links, and contact the Webmasters after the links are there. Tell them you'd love to do a link exchange, but if not, you can at least keep their link on your site until someone else displaces it. Then, as more & more sites agree to the exchange, give them priority. Slowly, you'll push off the page all the sites that were unwilling to do the link exchange. Eventually, every link will be an exchange link. As this happens, your site will get more & more PR, and more sites will be willing to link to you.

-Tony