Why does my chain saw lose power and shut off as soon as it gets hot.can't restart until it cools off.

SOURCE: Have a Poulan Gas Powered Chain Saw, I haven't started in 10 yrs.

Not used in 10 years. Was there gas left in the tank? If so the carb is likely gummed up and may need to be taken apart and soaked in "Gunk" solvent and a new kit installed.

SOURCE: starts ok when cold. acts like it's out of fuel when hot.

Clean or change the sparkplug. Also make sure you have fresh gas and the proper fuel mix.

SOURCE: Fuel mixture for Poulan 245 and 306 chain saw's

245 here:
http://www.acresinternet.com/cscc.nsf/ed1d619968136da688256af40002b8f7/30945e6822106f5388256b3500246efa?OpenDocument

306 here
http://www.acresinternet.com/cscc.nsf/ed1d619968136da688256af40002b8f7/9a98d7ae6c77deaf88256b350024ae42?OpenDocument

I use 50:1 in everything.
Fuel/Oil Mixture

1. Use a quality 2 cycle oil and mix it to the OIL suppliers recommended ratio. Today I use Stihl 2 cycle oil mixed @ 50:1 in a Pioneer that I purchased new in 1980. There are no gouges or scratches on the piston or cylinder and I have no carbon build up on the piston top. The manual (on stone tablets) recommends 24:1. Over the years the mixture has leaned from 24:1 (Saw Recommendation) to 28:1 (Lawn boy mower recommendation) to 32:1 (Oil provider 2gal premium/8oz chainsaw 2-cycle engine oil - used for many years) and finally the last 5 (±) years 50:1 (1gal premium/2.6oz Stihl 2-cycle engine oil)
2. Any fuel containing ethanol is not good with chainsaws. Mix what you expect to use within a few weeks. Anything over 1.5 months old use up in a 4 cycle engine. HTH

SOURCE: 18"poulan chainsaw

Start at 1.5 CCW form lightly seated then tune for performance like this:
Carburetor Adjustment by Madsens.com
http://www.madsens1.com/saw%20carb%20tune.htm
CW is leaner; to lean will destroy the saw. If over tightened closed (CW) the adjustment screw faces are easily marred; marred adjustments are difficult to impossible to set properly.
Clean the air filter; adjusting with a dirty filter can cause a run lean condition once cleaned and the saw run.
There are 2 wav (sound - idle & full – may not be highlighted) files that I find most helpful, I think you will too.

I think your starting procedure may be the cause of flooding. Flooded is the #1 cause of hard starts in 2-cycle engines. Read carefully the recommended start in your manual. most miss the second note. It should be similar to this (read 3, read it again):
Warm start in the manual says 1/2 choke BS. Close choke, (sets fast idle) open choke, pull rope.
Start Procedure
Cold:

1. Ignition on/off to on
2. Set compression release – optional step even if saw is equipped with a compression release
3. Pull (close) choke, set fast idle (done when choke closed on some saws); pull starter and listen for an attempt to start. once heard (usually two pulls; no more than 4).
4. Set compression release – optional step even if saw is equipped with a compression release.
5. Push (open) choke pull starter until it starts (usually first pull).

1. Ignition on/off to on
2. Set compression release – optional step even if saw is equipped with a compression release
3. Pull (close) choke, set fast idle (done when choke closed on some saws) – Do not pull with choke closed.
4. Push (open) choke, pull starter until it starts (usually first pull).

Testimonial: "you'all have been very helpful.to even ask a question at a repair shop around here you must first hand them your wallet! Thank kindly"

SOURCE: my Poulan 3500 chain saw will not start

3500 poulan runs and secand stop