Rule #1 in using timeouts wisely, THERE IS NO SET FORMULA FOR TAKING THEM.
What needs to be learned by the lower ranked player is the ebb and flow of a match and strategies being employed at the time. You shouldn't take a time out in your match because you saw a pro or pro master take a time out at a particular point, only if "your" situation dictates it. Timeouts can win you a match, but they can also lose one.
Ex., I was playing in a no two pro dyp against a very good semipro team in which I had drawn a total rookie who was just learning how to play. The match comes down to meatball where the other team had the drop. I decide to stay up front to block the pass even though the forward has been ripping my goalie to shreds. However, he makes the pass and I'm thinking the match is over. But for some strange reason, he calls a timeout with a smile on his face as if the match was in the bag. I think to myself, "WOW, did he just do that?" I step back with a smile on my face not believing my luck. I look over at David Radack who says aloud Wow, in which a lower ranked player sitting next to him says "What's wrong, I don't understand?" Radack says, "Just watch". As the opposing team approaches the table and about to call time in, I say "Hold it a minute", I then switch to the goalie position and instruct my partner if I make the block and you somehow come up with the ball, call timeout. The opposing forward then says "I don't care who's back there". After looking him in the eyes with a rye grin, I know he's lying. He shoots and I block it. I clear the ball and it hits the back wall and my partner catches it and calls timeout. I switch back to forward and score the point. Match over. Afterwards, I asked the forward why he called the timeout. His reply was "It was a big point so I thought I was supposed to take a timeout. His mistake was not evaluating the situation. He was ripping my goalie apart and should have continued to do so. Instead, he gave me an opportunity to make up for not switching to goalie in the first place on his last drop. He made a huge strategical error.
So you see, there is not set equation for using timeouts. You need to learn to evaluate what's going on to use them wisely. I've used them before on the first ball if I thought it was going to help my situation now and later on in the match.
When you see the top guys play matches and using timeouts. After the match is over, try going up to them and ask them why they used a timeout in a particular situation. That's how you learn.