Larry,
Did Mike's document help out or not?
Here's my advice.
First the FMA timer has a lot of nice options, but to start you can just "ignore" most of them. "Ignore" means that things like first power, alarm power, approach power, can just all be set to the same value. Also the times can be somewhat arbitrary if the power isn't changing.
So what does matter is "Idle time"--I'd set it to ~20 seconds. This is the time from pushing the start button (with a motor power burst), walking out to the handle, picking it up, and having the motor turn on. Set "Idle Power" =0, no use burning electrons as you are walking out to the handle.
Next the "Total Time" is from this motor turn on time to the ~2 laps after the clover. Probably will be 5-6 minutes depending on your lap speed.
"First power" should be the setting for how you want to fly the pattern. All other flying power settings ("Final Power", "Approach Power" should just be the same as the "First Power for now -- you can get more sophisticated as you familiarize yourself with the plane and power system. If you want the two blips, then you can set "alarm power" to be anything from 0 to 50% of the First power setting.
Settings like "First Time" can be almost anything as long as it is less than "Total Time". For example, set it for 1 minute. "Approach Time" can be 10 seconds or so.
If you want to be more sophisticated, then the settings will depend on your ESC and how you run it. I have the Castle Creations ESC and I run it in RPM Governor mode. I set my First Power to be at ~48% of full throttle and the first flight time to be ~10 or 15 seconds, enough to cover the takeoff and the first two laps. I set my Final power to be such that the ramp up from the "First Power" to "Final Power" setting will cross 50% throttle at during the 2 level laps just before the reverse wingover. My ESC is set up so that throttle settings below 50% give me ~7500 rpm, and above give my ~8000 rpm--my normal flying speed. So my first ~3 laps are at a lower throttle --making it easier to have a nice smooth takeoff and gentle climb to level altitude. But like I said, these type things depend on what type of ESC you have --then you can match the Timer to the ESC to do these cool things.