I agree with Tulloch. I seem to remember these tutorials (wwgeb - Planetary Imaging series) were helpful, if you like videos -- which works well in this case:
Something that helped me along was learning that the way to think about the wavelet layers is that they are like sharpening at different scales of granularity. Hitting the preview field (to the right of the slider) can help to show what's going on. It's different to something like regular photographic sharpening where it's more of a black box -- here, you get more control, at the expense of complexity.
Layer 1 is the finest granularity, and depending on your camera and settings, is likely down at the noise (grain) level, i.e. really fine structures in the image -- so there you are just sharpening noise, quite often. Then each layer is coarser and coarser in terms of what "scale" structures within the image are being sharpened.
You balance the sharpening you do at each level (i.e. scale of structure) with the denoise control per layer, because the sharper you make things, the more noisy it appears. It's a judgement call and you just have to tweak. It's very iterative.
But save yourself a few "schemes" as sets of these wavelet settings are call, and you can just call up a little library you'll create for your particular typical images. Personally I got to the point where I just found a recipe that worked for me for a particular object (like last year's Mars opposition for example), and I could just keep using the same scheme (per object). I have a few personal schemes for Jupiter, Saturn, solar, and the moon. Sometimes I might apply a scheme from a totally different object on a new object, at least as a starting point. My schemes are unique to my setup and imaging trains, so not so useful to others. But you can search the Internet for a few shared ones out there.