There are many small things about Lipos, but the basic rule of thumb is drain .5 volts per cell from full charge. This may depend on the quality of the battery you have. Read the label on the battery and the charger manual.
I've had many brands of lipos and few different chargers. The best thing is to follow the manual. Lipos in my opinion is not governed by voltages but capacitance or charge. So, what this means is you should watch how much you charge, how fast you charge and how much you discharge. Usually the charge rate is 1c, there are others that you can charge 2c or more but that will shorten the life of the lipo, so is discharging. if you drain it close to some ESC's lipo cutoff, you may be damaging the lipo. This also depends on the quality of your lipo. to be safe, do not discharge below 3.5 or so volts. (it's normally 3.7)
so charge at 1c (your total capacitance) to 4.2 volts per cell and discharge to 3.5 or higher. Use the balance charger to be safe.
I opinion is that car guys seems to be less careful about lipos than plane or heli people.