There are 4 primary ingredients that may be used to make
ejuice: Propylene Glycol (PG), Vegetable Glycerine (VG), Flavorings and Nicotine liquid concentrate.
Nicotine
Either PG or VG may be used as a carrier for the nicotine concentrate. Nicotine solutions can be obtained at various nic strengths denoted by mg/ml or as a percentage such as 2.4% nic. 24 mg equates to 2.4% when expressed as a percentage.
I like to use 36mg nic in a PG base. This is because I rarely
vape more than an 18mg
juice and I find that working with 36mg nic is less hazardous than say a 100mg nic. Also, if you make an error in mixing the nic then using a 36mg nic will pose no danger while a 100mg nic could end up creating a health hazard. I'm not too fastidious about the exact number of drops and such. I tend to approximate quantities of ingredients when mixing.
PG/VG Ratios
Most juices are a mixture of PG and VG. It is also possible to make juices that are 100%PG or 100%VG. Well, technically, if you use flavorings in your juices then a 100%VG juice might not be possible since most flavorings contain PG in them.
Typically, a ratio of PG to VG is used to make juices. The preferred ratio varies by individual taste. Some people like 30/70, some like 50/50, etc. Note, that by convention, the first value (or numerator) is PG while the second value (or denominator) is VG. So a 30/70 ratio denotes 30% PG and 70% VG.
VG is more viscous than PG and it is also sweeter. Sometimes distilled water is added to 100%VG juices to make them less viscous and easier to wick. PG aids in creating throat hit while VG produces a smoother juice and contributes to more vapor production than PG does.
Flavorings
Flavorings may be mixed into the juice. Typically 10% - 20% flavoring is used, depending upon personal taste and the flavorings being used. Sometimes 1 or 2 drops may suffice of a particular flavor or flavor smoothener or sweetener. It all depends on the final result you are hoping to achieve. You don't need flavoring and some vapers make juices without adding flavors.
Mixing Your Juice
Given the above, let's say that you would like to make 5mls of a 60/40 juice with a nic strength of 18mg/ml. Let's further say that you want to make a Lychee flavored juice with 20% flavoring (my favorite). Using a 36mg nic in a PG base and an online or mobile juice mixing calculator, here's our mixing ratio (in mls) for the various ingredients:
2.5 Nic (PG)
0.0 PG
1.5 VG
1.0 Lychee flavor
If you use a higher strength nic then you might need to add some PG (without nic in it) to the mix in order to preserve the desired 60/40 PG/VG ratio.
And there you have it. This juice does not need any steeping to taste good, however, steeping for 3 days makes it better and the flavor remains consistent thereafter. Some juices require longer steeping times. You will know which ones only with experience.
There are several videos on YouTube that describe the process. It will help to watch a couple before venturing out on your own.