Just turn slow is good advise, but you don't want to go too slow either.
On your machine with what your planning to do, I'd start at the 350 speed for turning/cutting. Also, if you can position the live center in the tailstock into the piece your turning, it will hold the piece in the jaws much better, and with more piece of mind regarding the piece flying out of the jaws. Sometimes the piece your cutting will generate vibrations at some speeds, so if while cutting, the piece is chattering and squealing loudly, try changing the speed to one step faster, or one step slower.
If you're going to do the threading on this machine, its helpful to run it a one of the slowest speeds while you learn how to do it.
Keep the cutting edge of your tool right on the center line of the piece your cutting.
Like others have said, watch your fingers, loose clothing, long sleeves, and wear safety glasses. Remember the ribbons of cut steel are unbelievable sharps and will cut you unbelievably fast!
John