How to complete Counterize filters?

I have just installed Counterize, to give me stats on my blog traffic. Trouble is I’m new to all this and it is asking me to complete the “filters” – IP address, country etc. Does anyone have an easy-to-understand tutorial on how to complete this information? For example, under “Filter for these IP addresses”, does it mean I have to enter MY Ip address so it won’t detect my visits to my blog as site hits? Or does it mean something else?