Hi Devils Onion,
Well I mess up and forgot to put the link you my other post. It is there now and I think you will find it useful. Well heck, here it is again: How do you use a fly reel.
I want to caution you about palming the reel with a 5X tippet. It is a sure way to break off. You want to learn the technique but it is not a good way for a beginner to fight a fish on a light tippet. I think having your drag set properly and using the rod to control the fish is a better way for a beginner.