What is the proper way to use corn starch to thicken sauces?
When making the slurry, stir cornstarch into cold water until it has the consistency of cream. This can be set aside until it's needed, but be sure to stir it briefly before you pour it into the sauce to redistribute the starch granules in the water. You should pour it into your sauce toward the end of its preparation.

According to McGee you should use roughly 2/3 as much starch as you would flour. If you aren't using a recipe, add your slurry a bit at time until it's a thick as you like it. Also remember that the sauce will thicken a bit as it cools, so it should be a little bit thinner on the stove than you intend to serve it.