For general purpose coverage I usually use about 15 psi. If I need to paint fine detail I'll go down to around 8-10 psi.
Also, I mention this frequently but this seems an appropriate place to mention it again, there are three things that are related: Pressure, Paint Viscosity, and Distance From Surface. If you change one you'll probably need to change one or both of the others. If you reduce the pressure, for example, you'll probably need to thin the paint more. If you try to get closer to the surface you'll probably need to reduce the pressure more.
There is no magic to thinning paint. Thin it enough that it sprays at the pressure that you want to spray at. If it sprays at your desired PSI right from the bottle then it doesn't need to be thinned. If it doesn't, add some thinner until it does. Try not to go too thin or it will be difficult to get coverage.