How can I select specific shades when using a color wheel to create a color palette?

I am using a color wheel to create a palette.

If I use a color wheel pattern/system like triadic, analagous, complimentary etc this will generate a series of basic colors/hues.

My question is:

Once the base color palette has been selected - how do I then select specific shades off of the base colors? My intuition is to consider the percentage of area that a color would be applied to.

For example if I had a composition involving a couch and cushions (assuming I had the ability to change their colors), and had a blue/orange complimentary scheme/palette. I would use a lighter/softer blue for the couch, and a strong vivid orange because the couch is so much larger and would otherwise dominate the composition if I didn't give the cushions a stronger "voice" by way of a more intense color.

Is my intuition correct? are there other factors I should consider?