Hello Sil...
Ammonia and nitrite should always be zero. Even a trace of either can hurt your fish. Nitrates are the end result of the nitrogen cycle and a trace of this form of nitrogen isn't bad. If you can keep the nitrate level around 40 ppm, this is fine. Lower is always a little bit better.
If you keep a basic tank with hardy fish from the local pet store, you only need to be concerned about ammonia, nitrite and nitrate. You don't need to know about the rest of the chemistry stuff, unless this sort of thing interests you.
B