I am not a qualified watchmaker, just a simple guy who took a couple of watchmaking-classes on the internet (http://www.timezonewatchschool.com). If you don't feel absolutely comfortable with the procedure after reading my post, then simply go to a professional watchmaker, my watchmaker does it for free!
Well, here it goes then, first let me show you the instruments I use:

Probably the most important tool is the screwdriver, you really need a good set! Each time you are using the screwdriver you should determine if it is the correct size for the screw; using a too small or too large screwdriver might damage the screw and other parts of the watch.
The tweezers are also essential for handling the small screws, the screws are so small that they are difficult to handle using your fingers.
With the plastic dust cover you can make sure that your parts will stay clean.
The loupe is used for detailed examination of the movement, and can help you controlling the unscrew-activity.
With the dust-blower you can easily remove dust from different parts.
Now is the time to make the strap loose so the back of the watch can be accessed:

And as an optional step: removing the strap from the case. Not necessary for this procedure, but I always prefer to handle the case without strap when I work on a movement (notice the spring-bar tool for removing the strap):

Before opening up the case, remove dust and other particles from the back of the case by blowing some air with the dust-blower:

Now we can remove the screws from the back of the case. Use a screwdriver of the correct size, in my case the red screwdriver in the Bergeon screwdriver set. This might seem very easy, but should be practiced until screws can be removed without slipping, you definitely don't want scratches on the back. The way I hold the screwdriver is one of the two 'official' ways to handle a screwdriver when working on a watch. It is best to practice a bit on an old movement:

After loosening each screw, carefully take it out with the pliers:

And store the screw in the dust-cover:

Every part of the watch that you are not working on is kept safe away from dust:

Now the movement can be accessed easily, don't you love the nice finish of the ETA-movement:

This is the target of our operation:

At [1] we see the eccentric screw regulator, at [2] the Incabloc shock protection can be seen and at [3] we notice the stud carrier. Keep away from the stud carrier and the Incabloc protection, we will only be turning the screw regulator slightly.
With the correct screwdriver (the yellow bergeon in my case) slightly turn the eccentric screw, never turn it more then one mark, first evaluate the effect for an extended period of time before turning it further. If the watch is running fast, turn in the direction of the "-" symbol, if the watch is running slow, turn in the direction of the "+" symbol.

After making the adjustment, perform the above actions in the reverse order to assemble the watch again. Before closing the cover you can slightly blow the movement free of dust, but be very careful, never blow with force on the balance-spring, that might destroy your watch!
Now you can use your watch again for a few days, and determine how it runs, if necessary you can make another correction after some time.
Remember, this is a very primitive way of regulating your watch: a watchmaker uses advanced measurement instruments that can make a detailed analysis of how your watch is running...