First thing I would recommend is watching the Adam's video's, start right at the the begining It will answer every question you have asked and show you exactly how to to it as well, it will give you the confidence to move forward. You'll be surprised how easy it is once you get started.
And as Chris said, do yourself a favor and buy a polisher. With a black car you will get the return on your investment
And with proper wash technique you may only need to polish once a year. BUt black can be like having a part time job, ask me how i know lol
Anyways, welcome to AF and enjoy the shine
The videos
http://adamspolishes.com/video