Bing Ads ClickBank Conversion Strategies

I've been in to CB and Bing ads for a while for the 1st date of this month, I've spent nearly $210 and earned $100. I've few queries needs to be clarified would help me a much,
1) Do you prefer bidding hing and getting position 1 or 2 would bring conversion or 5-6th position would also get conversions
2) What type of bidding you prefer bid high at start or low bid and increase slowly.
3) What type of match you use, Broad, Exact or Phrase?
Anybody shed lights in this would highly appreciated.
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