If you are familiar with TV's magenta color (5th bar from the left) and you are already familiar with gray, yellow, teal, green, (magenta), red and blue, you can tell how your color "calibration" is set on your monitor. (The ability of your monitor to display these colors at their correct values, not as other colors or hues).
The most important part of calibrating your monitor is to first set its whitepoint, blackpoint and grayscale.
You are going to set your monitor's brightness and contrast so you see individual steps from the leftmost BLACK square to the rightmost WHITE square, they are all different!
Contrast affects brightness, but brightness does not affect contrast.
Try to set your brightness just down from max.
(use the bottom black as your guide. With brightness set correctly, this black and the monitor's screen screen edges should both be just that, black!)
Then adjust your contrast to get the grays between the black and white ends.
You may have to "play" with the controls, but you should end up with something better then where you started.
From the North Hills Radio Club, Inc. at http://ns.net/~NHRC/cal.html