Being a welder for 25+ years, 10+ on submarines, 5+ on nuclear reactors and being a trainer, I had to chime in here.
A lot of good advice given here and some not so good. If you plan on getting decent welds not gobs, match the right rod with the job. Read up, take a class, find a welder. I have never seen a welder that wouldn't show another person how to weld. I know a certain person who tried to learn on his own only to find out his welding machine was broken. After welding with a properly set up machine he was amazed. It took him 2 years to find out what was wrong.
Many manufactures make AC rods now. The numbers 6011, 7018, 6010 , or 7024 stand for something. the first two numbers stand for the tensile strength the third number stands for the position meaning a #1 would be good in all positions (flat, horizontal , vertical, and overhead). The low hydrogen rods should be kept dry or heated before use or you will introduce impurities that will promote cracking. I won't make generalizations on which rod to use where. Match the rod to the job (Metal type, position, AC or DC, thickness... etc.)
Some sound advice given to me along the way stands out.
1. Always make your next bead better than your last.
2. Your welds are only as good as their preparation.
3. The tip of a welding rod is 11,000 degrees and your skin melts @ 180
degrees.. COVER UP!
For your information, a welder generally uses a 5/32" welding rod to take a test. The theory here is if he can handle a 5/32" rod in any position than he be able to handle anything. Generally the largest width of the bead allowed is 1/2". Anything wider and the bead begins to trap slag.
Even after 25+ years I am still learning the art. It is an art. I could go on with war stories here but my point is learn how to weld correctly. Anyone can stick two pieces of metal together, it takes a welder to do it correctly.
So get out there and practice, don't be embarrassed to stick a few rods but make your next bead better than your last. Good luck.