I want to point you to a couple of extremely useful tips I read on Macworld yesterday.
Improving Your Autocorrect Experience
My first tip comes from Macworld’s article, "How to make iOS autocorrect work for you." It begins with the basics, telling you how to accept or reject the autocorrect and autocomplete suggestions that pop up as you type on your iPhone or iPad. If you type a space, punctuation, or carriage return, you'll automatically invoke the suggestion. If you tap anywhere on the bubble, it goes away.