Some other tips. You can basically set your models altitude by keeping a straight stiff arm Basically by raising or lowering your arm you can raise or lower the planes altitude. You are correct about the wrist action. This will come into play when pulling hard maneuvers.
Practice not getting dizzy, this can be done by focusing on a single spot on the ground in front of you and then as you turn around, move to another spot. This spot will be a few feet in front of you. It is no problem flying without looking at your plane. At least after you have the stiff arm thing down. Getting dizzy may not be a problem for you, but it is not good to watch the world wizz by your airplane in the distance.
You will also want you engine running full power. I would not try to adjust the throttle setting on your RC carb. Choose the right prop, probably around an 11-4, 11-5. Speed will not be an issue with this setup. Maybe around 50-60 mph.
Have fun. You will have a very good flying plane I believe.