I want to know, HOW to do Paint/Touch up?

[unknown2k1]

well to body shop/painting experts, i'd like to ask in my case, how to paint and touch up some of areas on my bike.
i have 04 and swingarm has scratch due to the exhaust, so i'd want to get those scratches removed.
since i dont think its worth getting another swingarm or going to a bodyshop who will charge me 100+ for quater size scratch, i rather learn it do myself.
since i want to look 100% perfect, how can i do this?
since the paint is off and scratched, do i need to sand it down and put some plaster wax, prime and use high temp paint?
im very noobie at this so, can someone explain to me what i need to use. thanks!

[56cbr600rr]

-find a paint that matches
-clean scratch and let dry, then touch up best you can
-then use some very very fine sandpaper (maybe 2000 grit) and smoothe it with this
-then use some type of rubbing compound (I use 3M)
-now should look better than before!