I'm not familiar with that particular machine, but I'll address this as if it were a Cyclo. I'm not familiar with that polish either, except for what I've read about it here at Autopia (I'll base my comments on that reading, but I wanted to note that I don't have first-hand experience with it).
First, note that it's no rotary, there *is* a limit to what you can expect (though that limit is higher than with some other machines I could mention

).
The Cyclo green pads can be too mild for many correction-type jobs (and conversely they can be too aggressive for the
final polish on some paints). You might oughta try orange (light cutting) or yellow (cutting) pads and then use the green ones to eliminate any micromarring (from the aggressive pads).
That polish might be too fine for what you're trying to correct. Maybe a more aggressive polish, followed by the 106FF (again, to eliminate micromarring from the aggressive work).
You can apply a good bit of pressure but be a little careful doing that with aggressive pads.
I hold the Cyclo perpendicular to the surface being worked; I keep it flat.
I don't work polishes until they're dry, but rather until they're *almost* dry.
Your speed of movement sounds OK, but you can try holding it in one place for a while and see what that does (again, it's not a rotary, but do be a little careful doing this).
Hope something in the above was helpful.