I recommend this sequence as it allows you to keep working while various sections are drying.
Start with the butt joints (where two boards meet end to end ), then move on to the inside and outside corners, you can only do one side at a time, If you try to finish both sides at once, your knife will foul the first side while you work on the second, these require the most time. Then move on to the tapered joints (those edges along the long side of the board that are tapered at the factory ), and last of all we will do the fastener areas,use these for fill in while you are waiting for other areas to dry.

Taping the Seams and joints.
The seams require a total of three coats of "mud".
The first application will imbed the tape in a thin layer of mud and bond it to the board, this is is known as the "Tape Coat".
Using your 5 or 6" knife,apply a thin 1/8"-1/4" thick coat over the center of the seam, appx 4"-5" wide. Once applied lightly drag your knife the entire length to kind of evenout the thickness. Now, tear off a length of tape about the length of the seam and starting at one end, lay it over the center of the joint. Press it lightly with you hand--just to make it stick for now.
Now go back and using your knife flatten the tape into the mud, use pretty firm pressure with this stroke, and work from the center of the length of tape out to the ends. You are trying to remove the excess mud, and just leave a thin layer under the tape.

Allow this to dry and then apply a coat of mud over the top of your tape. This is to hide the tape and requires, about a 1/4" - 1/2" layer of mud applied evenly over the top , this time we simply remove most of it. Smooth it out with a stroke down each side, then one down the middle. For the side strokes, put more pressure on the outside of the knife and let it ride a little high in the center. For the center stroke keep even pressure on the knife, we are trying to create a little crown,higher in the center over the tape and tapering out to nothing on the sides.
With factory tapered edges, (they are slightly beveled on the edges) this coat should extend about two inches wider on each side than the tape. Butt-joints, having no taper on the edge, will require you to feather them even farther than with the factory joints.
After this coat is done you should not be able to see the joint tape itself as it is completely covered with a layer of mud.

Allow this to dry and then using your 5" knife like a scraper, run it along all the tape joints removing any ridges or globs of mud. You should do this inbetween each aplication.
Next you will apply your third coat to the seams, known as the "skim" coat. For this coat follow the same procedure but now you will be using wider knife, an 8" to 12". As before, apply pressure when you "pull" the sides and very light when you pull thru the center.
This completes the taping of the seams. Look them over and check them by holding a straight edge across the seam onto the wallboard, if you see a big indent or crown you will have to add more mud and taper the joint out farther.

Now, Lets move on to the
Corners and Fasterners