well, i had this question about 4 years ago when i really started to design a proper studio and stop fannying about with shitty bedrooms. the main issues are obviously nodes but unfortuntely you just can't change the size of your room in most cases to help this situation. so you have to use traps and foam and anything you know what to do to help solve the problems.
it was great cause at the time, the was a really huge article out in sound on sound, which really, really helped me and ever since then, i've recommended it to everyone who's asked me about the same subject.
i personally used auralex bass traps in each corner (i seem to remember them costing about 250 quid for the lot but FFS what a difference and OMG i couldn't live without them now) and built my own bass trap for the back of the room using this article (wow, this thing is incredible - you can feel the converted energy on the box, even at super low volumes)..
i've scanned in and uploaded the article. here's the link:
http://www.blackoutaudio.co.uk/audio...oTreatment.zip