Whats the best way to promote my site to get more traffic?

Make sure your meta tags are filled out. Submit a site map to major search engines. Make a robots.txt file (this can be searched on how to do), have relevant text in your pages. Convince legit sites to link to you

For one, try submitting your site's URL to some of the big search engines. This will get more people to see your site if they search for a topic associated with it. You could try paying for an ad on Google Adsense, or something like that.
Try setting up banners in your site that other people can put on their sites.

1. answer relevant posts at yahoo answers :)
2. comment on related blogs and include your website
3. join forums and message boards and participate, making sure to put your site in your siggy
4. make a lens on squidoo
5. create relevant content on your site
6. write articles and distribute them

These are just a few off the top of my head, there are more of course. You need to do these things daily.

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