Chris 12
You have taken the first steps to climb the learning curve (It goes on for ever!)
You are doing the right thing by practicing on relatively cheap material, rather than something expensive, like a part from a kit.
As you gain confidence and experience, you could continue to learn by making simple tools that will not only give experience, and confidence, but can be used in the future.
I would suggest, as a start, making a Centre Height Gauge. Once made, it will help setting up tools in the lathe. An off centre tool does not cut properly, and leaves a pip on the middle when facing the end of a bar, so it is useful for that reason.
When you find a need to cut threads, start by using Taps and Dies. Zeus charts, and charts provided by folk such as Tracy Tools, will show the sizes for various threads (Use your books to learn the difference between different thread types, their forms and uses. If you have not got it, Tubal Cain’s “Model Engineer’s Handbook” is a good reference book to have)
Then you can start to make a Sliding Die Holder for the Tailstock You can buy the sets of Die holders, and Arbor to make your own body. Have a look at supplier websites, such as Arc Euro Trade, Warco or RDG
No one seems to sell anything for a Sliding Tap Holder.A pity, since the load need to drag the tailstock along the lathe bed, can strip the newly cut thread. (ME 40 threads are particularly fine, and therefore shallow, so can easily strip).
A small drill chuck attached to a body which slides on the arbor, will accommodate a variety of Tap sizes. There are other ways of holding Taps, but making the holders involve techniques that are not suitable for a newbie.
Don’t forget to reverse the Tap regularly, to break and clear the swarf. They are less likely to break and scrap the job, that way!
For thread cutting, you will need a lubricant, such as Trefolex or Rocol RTD.
Until you are more experienced, do not worry about screwcutting, or you will become embroiled in working out gear trains, some of which can be complicated,, and the techniques for taking multiple cuts without losing your place, and ruining what you have already done.
When you have mastered the ability to provide a steady, consistent feed, by hand than you can think about power feeds.
Again, this will mean you learning how to set up a gear train to give the right ratio between chuck and Leadscrew. All part of the learning to walk before trying to run.
P M me if you want more details about Centre Height Gauges, or Sliding Die or Tap holders.
HTH
Howard