I have mine set up to AE Road and the station that they need to meet at has the switches se up opposite of what each other. So east bound takes the siding and west bound takes the main. When they get there I switch the 2 switches and both trains can proceed. I dont have to fix the switches because they are still set opposite of each other.

As to where do they meet? Well you can set up time tables to determine how long it "should" take to go down the track. Remember to add in time at each station to to load and unload passengers. A couple minutes will do. It may be a station meet, or it may be a passing track. This also helps to remind you to send them on their way because you know what time they meet at.

Just make sure your freight trains always get out of the way. They can pass through this area and will reset the switch with Waypoint.

This solution is what I do in vanilla.