Justin: thanks for the compliment. I'd advise you either buy an instruction book or get someone to show you how to start. The layout is the first step, and it is the most important part of the whole exercise. You will need some 1/2" wide strips of clear plastic acetate to tape to the stock for the layout lines, and a needle sharp scratch awl to cut the first layout lines. Make a diamond template out of the same plastic: 1 1/2:1, 2:1, etc, according to the shape of the diamond you want. Use the diamond to place the chequering square with the bore, and scratch the two layout lines along the edges of the template. Now using the longer strips, tape them to the wood and extend the lines all the way to the borders you first created with the scratch awl. Use a 60 Veiner or parting tool, to carefully cut the borders and the diamond's lines. Here is where that tool that Dave described comes in handy, to straighten lines that for whatever reason have kinks. Do not cut deeply...these are just layout lines, but as I said, they are the most important cuts you are going to make, 'cause everything following depends on them.
You start the chequering with a two line cutter, but one of the lines is polished without teeth...it follows the veiner cuts of the diamond layout lines and creates a new cut line parallel to the layout line. Take the new cut very close to the border line but DO NOT GO RIGHT TO IT OR OVER IT. You will finish the line once all the lines are cut in one direction, using a short cutter set in a 90 deg. handle to cut on the pull. Another method is to use the 60 deg. veiner to finish up to the border line.
Once you have the entire panel covered with parallel lines, cut the other side of the diamond in the same manner. A soft toothbrush keeps the dust from obscuring your work. A chequering cradle to support the stock is a real boon, but not all stocks will fit in one...a full stock is an example. then its hold the stock with one hand and chequer with the other...good luck with that chore!
Once all the lines are cut shallow creating the pattern you have planned, start at the beginning and cut them deeper. I almost always do this process three or four times before the cuts are to depth.
Now do the other side of the stock.
Hint: when chequering, turn out all the shop lights except one incandescent bulb over your work. It will help you focus on the particular line you want to cut, using slanting light to create shadows from the previous cuts.
Enjoy the ride!!