Colour Correction in Edius 4

I am currenly using edius 4 and i am trying to learn how to better peform colour correction and which is better

1. Using white balance

2. Colour wheel

3. Colour correction.

I have been using the colour correction and acheived reasonalbe result but i want to know if there is better way of using or tricks ?

I started using the wheel and and others but found in the end to get better control whith the white balance filter.

Drop it in on your clip, open it up and you can go and grab a frame from another clip and have it fill half the screen so you can match the one you are working on with it.

Go here for a look and click on Effects and then Colour Correction for an idea of what I mean.