wood deck finishes

I have a small 10'x10' deck that I built alongside a 24' round AG pool 4 years ago. The deck is constructed of all pressure treated wood. I stained the deck with an opaque solid stain for looks. I wanted it to be white and gray, to match the pool and house. However, the stain has peeled every season and needs to be redone in the spring. Biggest annoyance is the chips of peeling stain all over the pool, filter and skimmer, late in the summer when it starts to peel. Each time I have re-stained it, the deck has been power washed and allowed to dry for a minimum of 5 days rain free.

I thought of carpeting the deck, and really like the way it would look, but I have read that it will trap water and prematurely rot the decking. Any attempts at this? What were your results?

Does any one have any tips on re-staining like I am now?
Any brand I ought to be looking for?
What about using a pool paint? Will it work on wood?

Any tips or ideas would be greatly appreciated!

When you re-stain, you should rent a sander and sand it all back to bare wood.
Carpet? I dont know how that will effect the life of the wood.
Paint you will have the same issues as stain, it wil flake off and you will have to sand and re-paint.

Thanks I'll try that.
On another note I had an idea to use boat paint on the top of the deck. Anyone ever try that? Wondering if I should use the stuff for above the waterline or below. I'm hesitant because it's expensive.