This is from another thread currently on this forum:
The first rule for oven tempering is the same whether you have a Paragon or a Tappan.
The first rule is - PRE HEAT the oven to the target temp until it is stable. That is usually 20 to 30 minutes.
For a kitchen oven:
Placing a thermal mass in a kitchen oven will aid in evening out gradations of heat. A 16X6" plate of 1/2" mild steel placed on the center rack makes a great thermal mass. Place a 2X2" piece of the same steel on the plate.
Once the oven and steel plate have been at the desired temperature for ten minutes, place the blade on the steel plate .... and place the probe of a digital oven thermometer under the 2X2 block ..... with the probe tip sitting on the blade. Do this and close the door as quickly as possible.
This will allow your blade to be very evenly heated, and allow you to know the real temperature of the blade, not the oven air. When the blade is at the temper target point, start the timer.
Temper for two hours. Check the temperature form time to time to assure the oven does not drift. Adjust the oven setting if needed.
Remove the blade ( leave the oven on and the probe in place) and cool off with running tap water for about 60 seconds.
Dry off and put back in the oven as before for two more hours.
Some people use a third temper, but for any steel but complex stainless steels or high alloy steels, that isn't really needed. It won't hurt anything, but in normal steels, virtually all retained austenite is converted in the first temper, and all martensite has been tempered by the second. 1084, 1095, 5160, O-1 are all fine with two tempers.
Cool after tempering in running water. Slow cooling can cause some less desirable metallurgical situations. These probably won't make much difference, but the best procedure is rapid cooling from temper to room temp. Rapid cooling from temper will not warp or crack the blade, as there is no change in structure occuring.
A basic digital oven thermometer with probe costs about $20-30 at any kitchen store or big box. Kmart probably has them, too. If you get one with a temperature alarm feature ( fairly standard), set it for 10° above the target. If the oven fluctuates or drifts 10° too high, the alarm will sound. This is a real plus for guaranteeing the temper does not drift off too much. Many of these thermometers have a timer, too....a double plus!