@amirm always reduces levels and others have recommended the same. Why?
There is a difference that needs to be established between analog and digital EQ.
Amir uses digital EQ so either he needs to 'boost' and lower the digital pre-amp to accommodate for the needed bits which also lowers the overall loudness of the original signal or you lower everything that does not need a boost and (almost) ensure you will not 'clip' the digital signal.
The digital described signal is an addition of signals of all instruments/voices in the recording. The peaks in that signal usually are low frequencies with higher frequencies riding on top of it (and each other). You cannot go above 0dBFS in the digital domain which is where most recordings already are extremely close to or are hitting.
Well.. with upsampling or filtering you can go over the 0dBFS (inter-sample overs) when calculating the changed waveform but you should not go there.
You should not simply because not all DACs can actually handle that.
So to prevent that you either only lower that what needs to be lowered or you do not boost and lower that what does not need to be boosted.
Some software EQ automatically lowers the overall level when a boost is used, others do not and you have to manually dial that in.
Something can be said for both methods and depends on which frequency (band) one boosts. Boosts in higher frequencies may need less attenuation than lower frequencies (because the amplitude in general is lower for higher frequencies)
The results is (almost) the same which is overall level coming out of the DAC is lower in all cases.
This brings us to the often heard complaint that amplifiers are not powerful enough. Well that's not the case in the vast majority of cases. The problem is that people apply digital EQ, lower the gain (or rest of the signal that does not need a boost) of the average signal by the boost needed.
When the needed boost is 6dB you loose 6dB (at least, some would like some room for inter-sample overs or to stay away from 0dB FS) and thus to play equally loud you need to either turn up the volume or increase gain by 6dB (or slightly more).
When you are using an inefficient headphone then you run out of gain and can't go loud enough anymore with your setup.
With analog EQ the same happens but in that case there is no loss of average signal so no need for a higher gain or more power.
The only thing you could run into is amp clipping at very loud levels because the boosted part may reach amp clipping levels.