An aqueous traffic paint including hard-soft polymer particles, polyfunctional amine, and volatile base is provided. The hard-soft polymer particles, which contain soft polymer and hard polymer, have a hydrophobicity characterized by a Hansch parameter of at least 3. Also provided is a method of producing a traffic marking on a road surface using the aqueous paint. The aqueous traffic paint is suitable for application to road surfaces, including oily road surfaces, and may be applied at temperatures below 15.degree. C.