yup it is the correct way to position elements :)
as Johnny said you have absolute, relative fixed and static.
Absolute is relative to a parent element that is positioned – else to the browser
Relative is relative to it’s actual normal rendered position, so if you left the positioning at 0 you would see no change but if you change it, it will move from that default position.
Fixed is fixed to the browser window, so if you have something 10px from the top it would be 10px from the top even if you scroll
and Static is the default :)