Pin Placement is a very important thing that helps your ball pretty much do any thing.

Where do you want your pin placement at?????

For Oily lanes you want the pin far away from your track. (your track is the part where the ball rolls on the lane)
In the picture below it shows for a righty where you want your pin, where the pin=p and your track=T. Now if you have a high rev rate and you want extra length on the ball get closer to your track, but make sure not to get to close to it. You would want the pin to be above the fingers or if you want length and a smooth roll on it you would want it below your fingers.

The higher the pin the sharper the reaction and the lower the smoother the reaction.