Each target, depending on ferrous content will be given an FE number, also depending on its conductivity will be given a CO number. This FE-CO number is plotted on the screen as a X-Y co-ordinate. If those co-ordinates land on a white part of the screen you will see it on the screen and hear the target according to your audio settings. If it lands in a black part of the screen it will be blanked. The smartfind screen just allow you to choose what gets blanked and what doesn't.
When I first got my e-trac I got piles of targets, both good and bad, and ran them past my coil to see where they plot on the smartfind with an open screen. From that you get orientated to the smartfind screen, in your mind you will start to 'zone up' the different areas of the smartfind to where the different targets hit (eg, silver, brass, pull tabs, gold rings etc). Once you know where targets appear, you can exclude the different areas by blacking them out. This is done in the edit screen where you are given a square frame that you move around and select areas you want to discriminate. So if you black out a 3x3 square for example, any target that has FE-CO numbers that fall in that square will be blanked.
Some people use 'tight' patterns, e.g entire screen blacked out with only white (open) areas where specific coins are located. I've seen many guys do a 'first pass' with a pattern like this and get all the high denomination coins first, then open it up and get the lower denomination coins on the second pass. (Cherry picking)
If there any etrac owners in your area, hit them up for lesson. Face to face is much easier to digest.
Good luck
Greg