Striping/Painting wood Railing

I've got a wooden railing made from pressure treated wood. I waited about 5 years before deciding to paint it. I primed it and painted with latex paint. Now it all peeling up.
What is the best way to strip off the old paint. Is there a better paint that will last longer that I should consider this time around?
Regards.
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Use a heat gun to heat up the paint then scrape it off. When you are done sand off the rest. Then use oil based primer, enough coats so that you can't see through it. Then use a good oil based paint like Rustoleum.
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Instead of paint, use a solid colored stain. Looks like paint, but will be more suitable for the PT wood.
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A flat top on the railing? use oil stain, latex is water base and doesn`t hold up as well on horizontal surfaces.
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m Ransley wrote:

Olympic makes a solid color latex stain for use on horizontal deck surfaces with foot traffic.
http://www.ppg.com/ppgaf/olympic/odsolid.htm
I'm sure it could handle the top of a railing.
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Ether Jones wrote:

Either one of these Benjamin Moore products should work:
http://www.benjaminmoore.ca/pdfs/tds/nonav/en/122.pdf
http://www.benjaminmoore.ca/pdfs/tds/nonav/en/065.pdf
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