There is no "correct" way of doing it, but I'll give you a quick rundown of how I do things.
I always start a track with the drums, period. I'll throw down some kicks, snares, hats and shakers, then arrange them into a good sounding pattern. All my kicks will be linked to channel 1 of my mixer, snares to channel 2 and hats and shakers to channel 3. I'll drop the high end EQ on channel 1 (as thats my kicks, which dont use the high end of the frequency range) and throw a compressor on there to help push the kicks through the mix. On channel 2 I'll lower the high end and the real low end of the frequency range (as snares use mostly mid range ) then play around with minor adjustments on the spectrum until the snares sound right to me. Again I'll throw another compressor on here too, to help the snares come through. Onto channel 3, and this see's me lowering all low end and most mid range of the frequency spectrum (hats only use the high end). I'll also sometimes throw a stereo enhancer on this channel to throw the sounds out to the sides a little. By following these first few steps, you are initially creating space in the soundstage for all aspects of your drums to work together without getting in the way of each other. (So you now have your kicks using most of the low end, snares sitting in the middle, and hats and shakers taking up the high end).
I then move onto creating a bassline, find the sound, create the riff however you see fit etc etc. Then that bass sound will go onto my 4th channel. Again I'll lower the high end and maybe some of the mid range too (depending on what sort of bass sound I'm using). Sometimes I'll throw a distort on there or something else to give it more body. If it's cutting out my kicks, I'll go back and slightly lower the low end on my kicks, or on the bass. Lower the volume of the bass or throw a compressor on it, just generally play around until I can hear the kicks clearly through the bass.
If I have say for example, 6, different synth's in my track, then that will be another 6 mixer channels. Each sound sits on its own channel, that way I have full control over where each sound sits in the mix, and what FX I want on each individual sound.
As for the name, I came up with Dimenzion-X fairly quickly. Not sure how, or why, it just came to me. I sat there one day thinking "I need an artist name" Ran through a load of shitty ones in my head, then that one just popped in there!
Sorry for the huuuuuge post, but hopefully it can help you understand a little....