ingredient breakdown for the amateur

I'm a newbie, and was hoping to get some advice from all the experts!

After reading a lot of the posts, I've come to realize that the packaging can say whatever it wants, but the truth is in the list of ingredients.  My problem is that I have no idea what ingredients or good, and what ingredients I should avoid.  I was hoping to get a list brokedown to better understand what I should be looking for in a product. 

Also, I buy the cheaper drug-store product, anyone have recomedations as far as your basic everyday shampoo and conditioner?  I would really appreciate that too.

One more thing!  What would you say your weekly hair routine consists of?  I don't do any special treatments, should I be?

FYI-I have slighly wavey color treated hair that I am trying to get back to good.