Yes it is possible. I managed to do this myself for the first time ever earlier this week! In my case, I'd taped this band before, taped from this venue before, and I'm very familiar with my rig. In other words, I knew in advance what to expect, so I set the levels accordingly. All I can say is, practice. Learn the bands you tape, learn the venues you tape in, learn your rig. If in doubt, set your levels low - you can always boost the volume later.
best regards,
stephen