LW Cyg is a slowly varying "irregular" variable star that is known for its red hue. This carbon star varies from about 8.5 to 8.8 magnitude. Carbon stars are named for the relatively large amounts of carbon observed in their spectra.

This star is very cool, which makes it appear deep red in the telescope. One look at the field and it should jump right out at you.

While you are there, have a look for the 12th magnitude companion star some 84" away to the west. This pair is almost certainly not physical.

LW Cygni lies close to the Cygnus/Lacerta border. North is up and east is left.

The field in a 6" at 50x. North is down, east is right.