Peg weighting is very important. Don't throw it out if you can't get it right away! I've got a friend I ride with who's a fairly green off-roader that I've been trying to show some techniques to every time we go out. One day while we were riding 'the twisty trail', I stopped to explain peg weighting to him, as I noticed he was having trouble keeping up.
He's pretty good at picking things up once they're explained to him, and on the next pass through 'twisty', he was right on my butt!
It's not just cornering, but also off-camber situations that this technique are effective for, and brake sliding. Try thinking of how when you are coming out of the corner, and you've got your foot up by the front wheel to weight it .
You are already weighting the peg slightly without realizing it. When you go into the turn, slide up on the tank, move to the upper edge of the seat, as previously suggested, and shift all your weight to that foot as if you already had the other foot out.Your upper body should be up over the crossbar going in, then leaning back with your foot out coming out.
I hope this clarifies things a little. It doesn't make sense until you've done it.:confused: