How To Use An Equalizer for Home Stereo
1) Analytical method. Wear hearing protection. Set levels to reference, or 85dbSPL at the primary listening location. Using an appropriate room analyzer of your choice and your calibrated measurement mic at the primary listening location, ring your listening space and observe the FR curves of the space. Insert the EQ in the line-level analog signal path and use it to correct observed room modes or nulls. Cutting is normally better than boosting, and if you must boost do not exceed +6db to avoid clipping your amplifier. A graphic EQ (fixed bands and Q, like the Loki) is more difficult to use for this task than a Parametric EQ, but it can be used for large, approximate adjustments. After initial adjustment, repeat the above several times until the result looks like your desired room curve. If your analysis software is capable of real-time readings, this can make the job faster as the result can be directly observed while adjustments are being made.
2) Normal consumer method. Install the Loki in the line-level signal path. (This means between your source and your amplifier, preferably after the preamp or in a effects loop of the preamp if you have one.) Make sure it is within arms reach of your preferred listening spot. Turn on your system and put on some music you like. Listen. Fiddle with the knobs and listen to what they do. Fiddle until it sounds good to you. Play with the bypass switch to amaze yourself at the before and after. Fiddle more with each track, if you like, or just whenever you feel like it, or not at all. Enjoy the music.