No problem! Very kind of you, i think we're all learning as we go really, it's just a case of listening and knowing how to use your tools. The more you do it the better you'll get. Sites like 'homerecording.com' and 'gearslutz' in particular are a library of almost everything you need regarding 'how to's.
Compression is used to level out volumes, help things sit in a mix without going too loud or too quiet, but a complicated thing to get your ear around properly (i still haven't).
With EQ, you should mainly be using it to cut any unwanted frequencies (as a starting point), things like 'high pass filtering' (removing some low frequency) on the vocals for example, lets the instruments which really should sit in those frequency ranges (like the bass) have space to be heard in the mix without things getting muddy from all those low rumbles you picked up in the vocal mic. Same goes for most guitars and basically most instruments that shouldn't have very low and sub fequencies. Clear some room for the kick and the bass.
Similarly, low pass filtering (removing high frequency - go figure) on electric guitars for example gives everything at the top end (vocals, cymbals, snare fizz, etc) space and clears things up a bit.
If a specific instrument has a funny tone or a dodgy frequency on its own (sounds muffled for example, or a harsh high frequency somewhere), try slowly sweeping an eq bump along the frequencies until you find the bad area (sounds worst), then pull it the other way a bit into a dip, but not too much and use your ears, don't kill the sound, just do it until the offending frequencies are less prominent and the whole thing sounds balanced.
Getting things sounding good at the source is the most important thing for a good sound. Try different mic positions and settings etc, to make sure it's as good as you can get it to sound. Keep your mind on how that sound will play a part and sit in it's own space in the mix best you can.
Effects are a whole other story but again you figure this stuff out over time. More or less all the info i've had about recording and mixing is from googling any question i had about it, those sites above ^^ come up a lot. Finding a balance in the mix is easy once you have everything recorded correctly, and processed properly (and tastefully) with eq, compression, reverb, etc, but that's easier said than done.
I think the quality of your recording is decent, so you're definately on the right track, the rest will come with time and a helping hand from google?! I'm no expert myself at all, as i said it's a learning curve, you'll remember your previous mistakes and have 'EUREKA!' moments when something suddenly makes sense.
Hope that helps! Good luck and great song!
