HY,
JT gave you a good descriptiion of the manouever.
Just to add to what he said, and possibly what your instructor has told you.
When the plane banks more than about 20-30 deg, you'll find that you need increasing amounts of back pressure to maintain altitude, as the bank angle increases.
You'll also need increasing amounts of power as the bank angle increases and therefore the drag.
A "touch" of bottom rudder is probably all you''l need in a light trainer, and while co-ordiinated flying is an important habit to develop, the rudder input will probably have the least amount of effect on your steep turn, especially in a 172/piper, etc where adverse yaw is almost non-existent
Hopefully your instructor has also emphasized that you should be flying this manouver at Va speed, to avoid exceeding the load factor.
Also hopefully you have been shown stalls, accelerated stalls and spiral dive recovery ?
Have you started ground school yet? Have you covered the aerodynamics of the turn yet ?
Mike
Some further info :
http://142.26.194.131/aerodynamics1/Lift/Page10.html
http://www.pilotsweb.com/principle/load.htm
http://www.av8n.com/how/