Remove any existing paint with an electric sander to expose the naked grain. Using an electric sander speeds up the process as compared to sanding by hand. Chemical stripper is also effective for stripping heavily painted furniture.
Open the pores of the bare wood with a bronze brush. Brass brushes are cheaper, but can leave deep grooves behind, which may ruin the furniture.
Wipe all surfaces of the furniture with a damp cloth to remove dirt and dust. Allow the wood to dry completely.
Select your paint or stain. For the transparent look you want, dilute water-based paint with water in a 50-to-50 ratio solution. Dilute oil-based paint to the same ratio with mineral spirits or turpentine. Use a pickling stain if you prefer this look.
Wear Nitrile gloves instead of latex to protect your hands from oils and solvents.
Apply the paint solution or stain with a paint brush for a uniform look across the entire surface. For greater control, and a more antique look, apply the paint or stain with cheesecloth. For either method, apply the paint or stain in long strokes with the grain and allow the wood time to dry.
Repeat the process in several coats if you desire, but know that with each successive coat, you get closer to an opaque finish. Assess your work after each coat of paint and decide if you want to apply another. You can remove excess paint with fine sandpaper.
Seal the wood with a layer of clear wax applied with a paint brush. For pieces that get a lot of use, wipe on several layers of finishing oil as well. The more you add, the glossier the finish becomes.