As John says, one loud spike can keep the whole track quiet. If you check the box for POST PEAK LIMIT, you can then enter a GAIN CHANGE value which will increase the level of the track whilst flattening out the peaks. It's a form of compression which we call upward limiting.

Personally, I would continue recording without effects and just apply these as you mix. This way you keep your choices open right to the end.

ROG.