Easy steps to not getting banned:
1: use minor hacking (use infinite booster, no overheat, and minor reattack)
2: DO NOT MAJOR HACK ENGINES, this is the easiest way to not get banned
3: DO NOT MAJOR HACK WEAPONS, only minor hack them, like only making reattack time 1second instead of 0 seconds
4: DO NOT MAKE TOO MANY MULTI TARGETS, people can easily spot you attacking all the monsters in teh area
5: toggle hacks such as 0 weight, wall hack, regen hack, etc on and off periodically so the system can't track you
6:try hacking in a less populated area, and i recommend not hacking in PVP cuz that's gonna be a quick ban
7:hide all your info in game (go to PRIVACY in character menu or info i forget what it's called, and toggle off everything) this should keep people from recognizing who you are and reporting you to a GM
8: Make a crazy name like VWVVVWVWVWVW(it looks like a bunch of V's in game) or ajdsagkhsaskkhgr. This can also keep people from reporting you.
9: DO NOT USE A LOT OF HACKS AT ONCE! USING LOTS OF HACKS LAGS THE AREA AROUND YOU AND MIGHT TIP SOME PEOPLE OFF. ONLY USE A FEW HACKS AT A TIME!
10: try not to hack at levels 1-20. its pretty easy to level up w/out using hacks and its really obvious your hacking if you are moving at insane speeds and shooting super fast missiles, etc. wait till your an average level to look less suspicious
WARNING SIGNSthanks to streen for posting this)
If your game starts to lag like crazy it means GM's are checking through your files/data. When this happens quickly exit out of the trainer or set the values back to normal. Another option would be to quickly exit out of the game as fast as you can, but im not sure if that works well. Remember, if you major hack it's like a gigantic beacon going into the air saying "i'm hacking!"
Extra Precautions:
-delete hackshield folder. i have found no problems with the game after i deleted it, and it may serve some unknown hack prevention purpose
-have plenty of backup accounts that have relatively strong characters so you dont have to start over as a total newb if you get banned
Feel free to add more ideas to this thread the more the merrier!