If your chain is rusty it would be best to remove it and soak it in Evapo-Rust solution, then any engine degreaser to remove all oil, grease etc.. Then rinse off in hot water and dry , blow dry with a hair dryer or air compressor or both. If your chain does not have a quik style link, consider replacing the chain with one that does and start fresh. Just make sure to keep it lubed as weather/conditions predict.
Never use WD-40 on your chains. It is not a good rust remover or lube. It was intended for water displacement. WD-40 does however make other purpose intended products just to note. If your chain has ever so slight oxidation you can get away with just a lube and merely riding the bike will scrub the chain.
Not familiar with the lube you mentioned, I use triflow most of the time and dry type lubes for road bikes that only see smooth surfaces in good weather.
So to answer your question, I say no you did not do it correctly. I recommend you clean out/off the Wd-40 on the chain that is now mixed with the lube you put on afterwards. or start with a new chain with a quik link to make it easier the maintain in the future.
There are two kinds of people in the world, "Those who help themselves to people, and those who help people!"
Just adding to painkiller's painstakingly accurate advice: at least for me it was mostly surface rust in winter (Western Norway), lots of salt and dirt on the roads. Just lubing (Finish Line.... wet weather something) and cleaning off the excess worked. Then replace the chain in the spring.
Good that I asked, thank you guys. Did I do damage with wd40? I left my bicycle with wd40 on chain ... it will be for three weeks total due to holidays. Two more weeks left til I am back. It is in my apartment and not parked outside.
no worries, you will be fine
There are two kinds of people in the world, "Those who help themselves to people, and those who help people!"