Don't be discouraged if it looks like that after the first coat. It may take 4 coats just so none of the paint underneath is visible. I forget what coat I was on in this picture but you see that it is getting better. I think it was after 3 or 4.
You need to wet sand every 2 coats.
coat 1 ,2 then wet sand with 400 grit
coat 3, 4 then wet sand with 600 grit
coat 5, 6 then wet sand with 800 grit
coat 7, 8 then wet sand with 1000 grit
after 8 coats you should be good. You can polish the paint and make it shine. After my 8th coat I wet sanded and then did one more coat for good measure.