Using chat abbreviations in a text conversation on Internet is very simple. It is usually put in the middle of a sentence or is used separately. For example, on reading a funny joke while interacting with a friend over the Internet, you can convey your emotion by writing LOL. LOL stands for Laugh Out Loud. You can use various emoticons to express your feeling.
Some of the commonly used chat acronyms are ASAP(As Soon As Possible), AFAIK (As Far As I Know), LOL (Laugh Out Loud), BBL (Be Back Later), CYA(See Ya), OMG (Oh My God), BBS (Be Back Soon or Bulletin Board System), TTFN (Ta-Ta For Now), JK (Just Kidding), LYL (Love You Lots), TTYS (Talk To You Soon), SN(Screen Name or So Nyah), GTG (Got To Go) and many more.
Some Internet websites also offer chat acronym dictionary where from you can understand what the chat abbreviations actually mean. It is interesting to note that parents often search the Internet to decipher the actual meaning of a sentence written in abbreviated way by their kids. One such website where you can search for instant messaging shortcuts is teenchatdecoder.com.
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