Can someone give me the do and don'ts or tell me what to do in order to play fast. Does he whole arm need to be relaxed. Any websites that can help me here??

Well, most important factor is to use your wrist. I've been trying, it helps. I'm used to using my elbow, however, so...eh. But, an even more important factor, don't focus on JUST playing fast. You don't wanna be another Batio, do ya?
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DO: Alternate picking
Play from the wrist, and only the wrist. If you're picking/strumming from the elbow, you're not going to get anywhere accuracy-wise, not to mention speed.
Work up to it. You can't just "become" fast, you have to slowly get faster and faster.
Keep both hands up to the same pace. What's the point of being able to pick quickly if you can't fret at the same pace?

DON'T: Pick from the elbow or shoulder.
Play fast the whole time, slow stuff sounds just as good done right.

I think that's all.
If you're playing with tension you won't get any faster. Try playing slower, at a speed you feel confortable with, and gradually speed will come. It all comes down to avoid tension.

Like others said, use your wrist. Your arm should only be used to help with string skips. But still, don't tense it up. A trick is when you play, concentrate on your picking hand. Make sure it doesn't get sense, and eventually you'll feel more confortable with higher tempo.
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Yeah, the main thing is you don't want to be tensing up when you play. You want your playing to feel natural, not forced or strained.

I usually do it by playing a riff that I find kinda fun and isn't taxing, so I can feel a 'groove' and get loose (the main riff for the Fear Factory cover of Cars if you're curious). Think of it like anything athletic, you want to be prone without being overly tense, you're striving for fluid motion with some power behind it.
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