I thought I had explained it in my compressor thread but will elaborate here. You do need some temporary settings for sure as you adjust each parameter.
Sharke is a little incorrect also. You set
attack first, then
Release then
Ratio and
Threshold last. (Important!) The good thing about this approach is that adjusting them in this order prevents you from returning back to a previous setting.
To set
Attack start with a high ratio eg 10:1. Set the
Release time for a very fast
Release. Lower the
Threshold now so the compressor is working. It may be pumping a little but ignore how it sounds and only focus on the sound of the
Attack transient. Listen to the thickness of the
Attack transient. Too fast an
Attack creates a thin sounding transient.
Even with the same settings you can set the
Release now so the sound bounces back at you or glides back towards you. A bit like a swing. The
Release time should start to be longer. Make the rush of the
Release a musical component of the sound. It should push you into the next beat without pre empting the beat. Let the compressor push the sound towards you until the music makes its next statement.
The extreme settings will all help to emphasise the Attack and Release settings.
At this point the
Ratio is still high so things will sound over compressed. Lower the
Ratio now as much as you can without the losing the effects of the
Attack and
Release settings. Think of the
Ratio setting as the size and firmness of the sound.
Last is
Threshold. Adjust it so it the compressor is not compressing all the time. The right setting will see the dynamic movement coming to rest at special moments, otherwise you get a flatter more lifeless sound.
Hope this helps. A lot of this is also in Mike Stavrou's great book 'Mixing With Your Mind'