For watching my own servers, I like setting Moniterz to:

-Check every two minutes
-1 Retry

This gets rid of almost all "false alarms", but still keeps a close eye on my servers. Also, every two minutes is often enough, with one "re try", it will be every 4 minutes.

If you have your own server, this is often enough. If you offer hosting, you'll want to check every minute, but eveyr two minutes is only have the server load.

If you have a host, not your own server, I'd check every 5-15 minutes or so, with 1 retry.

But, it's up to you...Play around with the controls a little.

And remember, if you're relying on hearing the audio alarm, you need to have your sound installed, working with the volume on.