I don't squeeze the spokes, but rather lay the wheel down and press on the spokes at opposite sides of the rim, and on the NDS and front I press on the edges of the rim also. Each spoke gets hit twice, and I generally do this 4 times after the tension is up and even, and the wheel is true. When the tension on all the spokes stays the same and the wheel remains true, you know you are done. The hard part is knowing how much pressure to apply. You want the parts that need it to yield slightly (spokes, nipples, interfaces, hub flange, etc), but you don't want to go so hard that you tweak the rim.
I mostly use oval spokes so squeezing is difficult, plus I don't think you can get the same degree of tension increase that way. On the other hand, there is little of no chance of over doing it, but a greater chance of under doing it IMO.