For water spots, try any descaler to remove them. Then use polish to remove the paint etchings.
Polish is like compound but with less cutting ability. Don't confuse it with wax. People in Pakistan refer to wax as polish well.
You can use vineger as an alternate to proper descaling product as Saad mention. Or you can use any budget descaling product from cash n carry like from astonish. I have personally used vinegar technique and found it pretty effective if you use the proper technique. The key is to let the water spots soak in vinegar for 5 min and then try to wipe the area using microfiber towel. Repeat these steps until desired results are achieved.
You can use a towel soaked in vinegar solution or use any wax applicator pad soaked in the same solution and keep using cross hatch pattern until the water spots are gone
