A wool pad is normally used with the most abrasive of products, whether it is rubbing compound or polish. Unless you have deep scratches you are trying to get out of the gel coat, I wouldn't start with a wool pad. Especially if you do not have any experience with an electric buffer.
I have no affiliation, but this site has tons of info on detailing cars, that I have used in detailing my boat.
They have greats vids, writeups/tutorials on all the possible pad and polish combinations and to what detail each should be used for.