As above, but really avoid that. Try cutting compounding it out first with 3m product called G3, followed by G10, works a treat on red cars, and is great for colour restoring, G10 is the finesse which makes it glossy again.
Best option is the cutting compound, but be careful, use a wet mop and move quickly as it really does strip the paint off due to it's abrasive qualities. Then really polish it up afterwards to blend it all back in.
I like to mix G3 up with lots of water when i use it, means that you have less chance of cutting too much paint off while your working it in. You can actually mix it up into a spray bottle, but they tend to get a bit clogged up.