Pick a soap. Scan a few different soap operas and decide which one you like. Choose based on anything from characters, set design, or costumes. For the best chance of understanding the continuity of the plot line, choose a long running soap opera.
Identify the character who represents immortal evil. This character is often a man who is played by just one actor over many years. He will often come and go by “leaving the country”, falling into a coma, or some other completely plausible reason to take a break from soap life. This character may even “die.” However, this kind of character has the eternal power to come back to life, and inevitably does.
Find the character who embodies unblemished virtue. This character is usually a very young woman, since youthful beauty is an important indicator of a noble soul in the soap opera world. She is often victimized or besieged by illness, and is always in need of rescue. As she ages, she'll develop serious character flaws. She may be played by several actresses until she settles into a more interesting phase of her life. At that point, she'll move between phases of good and evil like most of the other characters.
Keep in mind the rules of soap opera familial relationships. Most characters at one time or another will discover that they have been switched at birth, have an evil twin, are the evil twin, were never really married to their spouse, or are the half sibling of their spouse.
Watch for spontaneously occurring personal tragedies. All soap opera characters are vulnerable to coma, amnesia, terminal illness, miraculous recovery from terminal illness and coming back from the dead.
Expect each soap opera character to have serious human failings. All characters are prone to infidelity, thievery and murderous tendencies.
Learn the relationships between characters. All characters are potential mates for all other characters. Almost no standard societal rules apply. Only blatant incest is avoided in soap opera plots, though the boundaries are tested.
Gather background information on your soap. When the past indiscretions and tragedies of your favorite characters' are important, clues will be offered in current soap opera episodes. Assume that over the years your characters have been married many times, have illegitimate children, have committed felonies, and so forth.