Sorry to be a total noob here guys.  Ive been doing some digging around on how to improve as a better and I read about chain banning and am still a little confused on what could trigger it.  Could anyone please elaborate for me please?

Having a bot farm on the same IP would trigger it, something similar ight but haven't heard much of such cases

Only case I know of is a farm. Haven't ever heard of a standard player getting a chain ban. Except for 'A Friend' on YouTube for his advertisements.

As said above, most any real reference to a chain ban will have to do with running a farm, whether that's 4 accounts or 400. Personally, I've only ever had a 'true' chain ban happen once, and that was with Virmach proxies (I say true because I lose multiple accounts weekly, but never all of them like that one instance). 

People and clients sometimes use proxies so that different accounts run on different IP's, to avoid chain bans.

So if you were running four scripts doing a money making method you could keep them on a different IP to your main or mule.

I think if your IP is flagged, they might check all the accounts on that IP, i've had a pker I was botting and a few flax spinners all be banned at the same time before.