Ronen,
As a starting point, in terms of cutting speed for Mild Steel, try 100 feet per minute, (surface speed ), using High Speed Steel tools..
So if you were starting to turn a piece of 2 inch (50 mm ) diameter mild steel, the circumference is (2 x Pi ) so say very approximately 6 inches. So you would run at 200 rpm.
Replaceable Carbide tips can be run at much higher speeds, so that the swarf comes off brown or blue, if not red hot.
As a beginner, I would suggest that you stick with HSS, so that you can learn the basics of grinding tools to the correct shape. A correctly ground tool will cut nicely, a blunt one never will!
One thing which will optimise the surface finish is that the tool,must be mounted at the height of the centre line of the lathe. If the tool is too high, it will not cut properly, but will rub. Too low, and it will not be ideal. In both cases, you will leave a pip on the end of any work that you are facing.
For this, to speed up tool setting, and save a lot of experimenting each time, it is worth making a centre height gauge.
This will also give you a little practice at turning and facing, so will be a win-win for you.
To adjust the tool to the centre height, you can pack it up with pieces of tin cut from food tins (washed! ) or from biscuit tins. Cans are often about 0.010" (0.254 mm ) thick.
If you want a picture of a centre height gauge, and instructions on how to make one, PM me.
H T H
Howard