Cranky
Don't you mean close all the brakes first and then open them a bit more as you get used to it?
Pisces
First some bad news: I bought one of those Loomis & Franklin reels a while ago and found they are not the best in the brakes department.
First I had to exchange the reel because I could not set the tension brake at all. So test this way, with a fairly heavy lure like a large crank, see if you can stop the lure from dropping down by turning up the tension. If not, go return it. In the shop you can test your replacement reel like this, if the tension is turn up, the spool shouldn't move from side to side and if you spin it with your finger, it should stop pretty quick.
Second, I had an extremly tough time using fluro carbon line on this reel. With every change in lure (size) I had to forever tweak both brakes. I ended up with a magnetic setting of 9! OK, turns out the line I was using is just crap (not cheap, just didn't suit my style) and I replaced it with braid. But still, I have the same 'crap' line on other reels but didn't nearly struggle as much.
I would recommend replacing the reel if you can and get something else in the same class (Shimano Crestfire comes to mind: best beginners reel IMHO and it will outlast many others. I still use mine for heavy work after 2 years).
If you can't get a replacement, all is not lost. Get a thicker mono as suggested and also keep the magnetic brake setting a bit higher than recommended here.
Other tips I can add: Get use to feel the spool spin under your thumb as you cast. Always be ready to stop the spool at any moment with your thumb, for instance when you short cast and the lure is going to hit the water in front of you (the spool is going to continue turning).
Later as you get the feeling, you are going to be able to feather the spool with your thumb to make that perfect cast. Then you'll know why people use baitcasters
