1) What kind of wax?
i use 'renaissance' wax some people might call it classic clay.
others use beeswax.
2) How much and placed where?
you can roll or smoodge the wax onto the end of a 3mm orange
stick for picking up stones. or you can take a little bit and
roll it into a 1.5 mm sausage and use it to hold several pesky
baguettes or rounds that you are channel setting. the sausage is
laid across the stones and smudged onto the metal terminations of
the channel. not much is used
3) How best to remove after setting?
it is easier to remove than rouge. some jewelers stuff it into
the ajours behind transparent stones so rouge and buffing
compounds don't get in. the wax can be cleaned off by ultra sonic
and then steam cleaning.if you don't have these try really hot
water with mr. clean or spic and span. happy setting.