Originally posted by DBCherry
Cover ten or twelve planes and you'll start to see some improvement.
In other words, after you've read how, practice, practice, practice. 
Originally posted by rockhouse
Look in the back of Model Airplane News for Faye Stilley's book on covering planes. Very informative.
Joe
Another thing to take a look at is the "How to MonoKote" video made by Top Flite. It is a simple, direct approach on how to do several things that can be trouble spots along with basic covering techniques. After that, it is all up to the experience you gain with each covering job. Faye Stilley's book is OK, but I was put off on the idea of not sealing the covering all the way down on a fuselage, etc., in order for the covering to 'look good'. Looking good is one thing, but in a LOT of instances the covering gives the final structural strength to the airframe...not something you want to skimp on!
Monokote is a good base color and is a bit tricky to do compound surfaces. It
will bubble if you try to use it over itself. OTOH, Ultracote is good for a base or customizing and you could practically cover a golfball with it. If you have the need to cover something and then paint it, give Ozcover a look.