When at the final approach what should I do ?

Should I let the plane loose altitude with the elevator level (so it goes down but gains speed) and then flare it about 2 feet off the ground ?

Or

Should I try to keep it level all the way to the ground and flare it 2 feet off the ground until is goes down ?

At the moment I do the second but I bounce a lot on landing.

Or maybe they are both wrong and I should do something else ?