I like the easy visual of peaking at the first orange LED. When I have the gain set for that on the channel and the channel fader is full open, with the master set so it also has the same 1 orange LED illuminating, I know that the headphone cueing levels are going to be even between the channel and the master.
Every DJ will do things differently, many run it into the red because they think "REDDER IS BETTER!" Those DJs don't know anything about audio signal.