Phil, do a quick study on the purpose of each step...In other words, define the process, and take appropriate steps for your particular situation.....
Generally speaking:
*Washing removes dirt buildup and film, pollutants.
*Claying removes embedded particles, smooths the finish.
*Cleaners, remove prior layers of protection with either chemical makeup, or light abrasives, or a combination.
*Compounding, the most severe of polishes, removes the most serious of scratches/oxidation/swirls. It is in essence, a heavy duty polish. Gives the paint shine, gloss, and depth, and smoothes surface. Usually followed up with a lighter grade polish.
*Polishing, (this is where it gets tricky because there are so many brands and levels of abrasiveness) does what a compound does, but to a lighter degree, depending on the "grade" or level of abrasiveness. Gives the paint its shine, depth, gloss, and smoothes the surface.
*Glaze, assists in hiding swirls and surface imperfections, temporarily.
*Wax, provides protection, and may enhance polish results
*Sealant, same as wax, but a different chemical makeup, most durable of the two. Can be Acrylic, polymer, or a combination of the two, and can also have Carnauba.
*Also note, some "waxes" have hidden abrasives (Cleaners)in them, so read before you buy !