I use mineral spirits, BLO and a modified phenolic varnish (Cabot's). I use a 1:1:1 for the first through 3rd coats; wipe on, leave for 20 - 30 minutes in our dry desert basin weather, then wipe it off like you changed your mind. I then use a 1:1:3 mix two or three times to build film. These later coats get wiped on a little thicker because the mix is a little thicker. They get wiped off less aggressively to leave more behind.
Depending on the finish I am after and the use of the item I will follow up a week or so after with a wet sand. I use 1000 - 1500 grit abrasives and a spritz of mineral spirits for a lubricant. I wipe down after sanding an area with a paper towel sprayed with mineral spirits. Through force of habit and a love for the look, I then paste wax and buff out.
On walnut:
GnG Low CoD (283).jpg
On cherry:
Niki CT Dresser (157).jpg
On sepele:
GnG Wall Cab (187).jpg
"A hen is only an egg's way of making another egg".
– Samuel Butler