You should have some way to adjust your input levels. I'm not familiar with Goldwave, but those controls must be somewhere. You want to adjust your level to just below the overload point. No other effects should be applied when you are recording. You want a dry sound to start with. You can then experiment with various effects alone and in combination on your "blank" canvas.

Look at the documentation. It should have all the info you need somewhere within it.

jeffp