I use soils with slow release nutes for 5 grows now, never posed a problem.
Advanced growers would rather build their own soil mix containing what suits their plants, fertiliers and needs. Starting with time release nutes will actually be better for beginners from my point of view, as you will only need to start fertilizing after 2-3 weeks of growth.
However, you treat it differently.
You should transplant to the starting pot when you get roots, and then trasplant to the final pot. NEVER transplant while the plant is over 3 weeks of flowering as thoes time release nutes will not break down in time to flush.
As goes for watering - water when needed. Simple method to get dialed in is to keep a spare pot with the same medium without a plant and check its weight. water it just like you water the other pots. then lift that extra pot and see if its heavier. if it is - don't water. when no water will be left in it, it would be just as light as it used to.
for the first few weeks it works that way, later on the plant will take substantial emount of water. then you should lift the pot that contains the plant to determine if it needs watering.
Another method is sticking your finger 2-3 inches deep. if it feels even a bit moist - don't water.
Another method, which I do not like, is a bought meter.
If your using the correct size of pot, one that will not cause any root binding, you should be fine watering once every 5-10 days if you run around 24°C.
If your using smaller pot compared to the root mass you will need to water more. If by the start of flowering you need to water more than twice a week, repot.
Subcool checked and figured that a plant that gets rootbound will finish way after a plant that had enough rootspace, even if the rootbound plant will get transplanted.
I do agree with him.
Underwatered plants will raise their leaves "praying" for water. after around 24hours the plant will become droopy and suffer some trauma.
Overwatered plants will go to the droopy traumatic stage right away.
Overwatering can cause root rotting, promote deceases, and atract pests. Underwatering only weakens the plant and MIGHT promote some bugs to come when it gets to the droopy part, but after 24 hours or so it is good as dead.
Overwatering is quickly fixed by stopping watering, and leaning the pot to its side letting excess water do drain. Usually it also tells you that more draining holes might be benificial.
Underwatering is quickly fixed by watering.
When a plant suffers any trauma related to watering its better to give it a bit less nutes on its next feeding.
If you know you have a tendency to water too much, add a lot of perlite to the mix. When you use 50% perlite you can water once every 2 days and the plant will still be healthy and happy. It will promote faster root growth as well. However, watering will become more frequent.