Ok now for the picking technique i would recommend a book " flying fingers" from Dave Celentano in the first few pages you have very nice explanations of several picking technique and how to hold a hand also very very good is video from Eric Johnson " Total Electric guitar " extremely nice explained, and you will probably like his style He plays thieving from Blues to heavy and what to say when He was 5 times the best guitar player on the planet ( among Steve Howe from Yes , and Steve Morse-also they were 5 times the best by voting just in the different time period of course). The answer for your question is this: (i also practice like that to)
Regarding the movement move your hand in the wrist ( not the elbow, but of course we are live so you will see same small movements but try to not move your elbow joint- only if you play some ritham guitar in stile of punk rock, or if you wish to hit strings very hard or one string)
1- put you guitar as you hold it (no matter on right leg or between the legs- the why you feel more comfortable NOTE : when you put guitar between legs with the neck up a bit to "sky" later on live performance you may play easier and you can hold your guitar more low ( anyhow that is not much important is the guitar low or high-that is an appearance and look))
2 - put your right arm (or left depending are you left or right hand player) on the bridge on the guitar body, so that your edge of the palm is laying over were the strings starts on the bridge. With your palm you can mute the strings or to make feed back-very important for OK sound, just experiment.
3- Make you arm i mean the hand like you wish to punch somebody just softer- in position of fist.
4- your pick have to be between the index finger and thumb, also hold your other 3 fingers in slight fist position, do not straight them up like you see many guitarist are playing, because we now talk about practice- also that fist position is OK later you can learn to use your fingers together withe the pick - the other 3, and that is Hybrid picking- very cool thing to know)
5 - hold your pick not to tight but also not to soft ( it will drop down)
6- so your hand is on the bridge ( on the beginning of the strings), in the position of fist, you are holding the pick, now just move your wrist very slow up-down (alternate picking), and ok exercise is just like this - use each of 4 fingers so that each finger is above one fret play that 4 ton and move to the next string, start from the Low E and then in another direction, then move your fingers down the one fret and continue until you come for example until the 16th fret (or do it all the way up to 22 or 24 th depending from the neck). I say this 16th because many guitarist ( me to 0 like to use just 3 fingers i'm some licks on those fret from 16 till 24 especial when you wish to do many bendings, the small finger is not so strong but practice all)
so the point to move your wrist- just that joint, and remember that slow is fast, practice very very slow and concentrate that you make clear tone and when you pick do not hesitate just hit the string. You will see that later after practicing slow you can play something fast that is the gold rule.
Also listen to your self, learn from each stile and take what you like that you will make your own stile, regards, m

.