We present a time-resolved study of energy relaxation and trapping dynamics of polariton condensates in a semiconductor microcavity ridge. The combination of two non-resonant, pulsed laser sources in a GaAs ridge-shaped microcavity gives rise to profuse quantum phenomena where the repulsive potentials created by the lasers allow the modulation and control of the polariton flow. We analyze in detail the dependence of the dynamics on the power of both lasers and determine the optimum conditions for realizing an all-optical polariton condensate transistor switch. The experimental results are interpreted in the light of simulations based on a generalized Gross-Pitaevskii equation, including incoherent pumping, decay and energy relaxation within the condensate.