It all depends on the condition of the paint I'm going to be working.
A moderate cutting compound:
For most oxidation and scratch removal.
Then I follow up with a finishing polish:
This will level the paint after you've cut it with compound.
The two above chemicals I only use if the paint needs serious love. The rest below is my usual song and dance.
Clay bar:
I always clay bar before I apply polish, sealer, and wax. It isn't needed if you're going to cut the surface with a cutting compound, though.
Polish:
Yeah, it's Nu Finish, but it works. Apply and buff off.
Sealer(some use it, some don't. I do:
I used this stuff when I was professionally detailing and can't say enough good things about it. Apply like polish.
Finally Wax, it's hit and miss. Some perform better than others and in certain environments than others. The higher content of wax solids, the better. So far I have found this. YMMV:
I usually get the paste and apply it by hand. Then buff it out with a wool bonnet on a DA polisher.
Hope this doesn't scare you off. You can get a decent DA polisher from Harbor Freight and a bunch of bonnets to use to help you out. A word from prior experience, write on the bonnets that you use for specific cutting compounds and polishes.