Tell me, how do you judge correct exposure?
Well... everything relates back to 18% reflectance (or 12% luminance, depending on which school of thought you accept). That's the benchmark.
-Pete
I'm pretty new at this but you're talking white balance, not exposure.
Yeah... you are new at this.
A grey card reflects approximately 18% of the light that falls onto it. And yes... it is also considered to be neutral in color and can be used for white balance.
I want to re-emphasise the word "benchmark." A benchmark is an anchor used as a point to which everything else relates.
Think about the room you are in right now. Is it too warm? Too cool? To answer this question, we first need something to which we can relate. I suspect if you want to store ice cream, the room is too warm. Similarly, if you want to incubate eggs, I suspect the room is too cool.
For quite some time now, the benchmark used in photography is 18% reflectance. So if we find our developer is too warm, we mean it's too warm to achieve a negative to produce 18% gray. Or if the development time is too short, it means too short to achieve 18% gray. It's the same with exposure. Simply put, the meter in your camera is telling you how to achieve 18% gray. So if you put a grey card into a scene you want to photograph and read the light reflecting off the card, you will have proper exposure for that light.
Of course, this is a very simple, general way of thinking about the process. But it will get you very close. There are other factors that will come into play that you will learn with experience, such as angle of reflectance.
ISO too relates back to 18% reflectance.
Since I began working with digital imaging, I favor an exposure that's just a bit under 18%. This is where personal style and desired results come in.
I hope this helps.
-Pete