I'm a keen supporter of ratios. There should be much less potassium than magnesium in the water. At the same time, the N : K ratio should be <=4 : 1 [molar!].
An example: I'm also running low-tech tanks. Recently, I front load 0.63 mg/L potassium, which means the actual concentration is even lower. No issues with potassium deficiency as long as I don't overdose nitrogen (eq. 3.5 mg NO3/L).
If your tap water is full of nitrates, then of course, your plants would be much more hungry for potassium, because nitrogen controls the speed of growth. Still, if you have, say, 20 mg/L nitrates, you don't need to have more potassium than 3.17 mg/L (4:1 molar ratio).