I don't think I have a water trap, but I'm not sure sure what it would look like if I did. I'm going to go ahead and go through with it and set the PSI as you've recommended. Hopefully there won't be any water buildup and everything will work out fine. Thanks you all for your help.
Well don't do it and listen to Outlander_04
I've never once had "water" or any substance come out of my air compressor and I've been using it for 5 years, I use it all the time when I'm nailing, and I use it once a month on my computer. Its possible that I have a water trap, it was my father's before he passed away and I started using it.