Seagoon ...
I doesn't matter what plane it is, pony or not, if you are trying to gain alt at such an angle that you are stalling trying to get to co-alt, you are in "deep yogurt".
I have only been flying AH since January, never flew any sim before, and like you, I learned quickly, that you cannot just point you nose up and go.
majic has the same outlook as I do. I will maintain my alt and try to get as much E (speed) as possible, at the same time watching the position of the higher plane waiting for them to try the "bounce". Once the "bounce" begins, I try to create a miss and hope that the opponent will make the wrong move and burn all his E. Now we are on even ground, or I might have the advantage.
If your opponent is a good "bouncer", they will accept the miss, regain alt, and try to setup for another "bounce". If you are the only one around, this "miss / rebounce" could repeat for quite awhile. If you have other friendlies around, the "bounce" will probably not be repeated multiple times, because he will then expose himself to a possible "bounce".