I haven't used Waterlox in a couple of decades. Instead I mix my own: 1/3 varnish, 1/3 Boiled linseed oil or tung oil and 1/3 turpentine with a drop of Japan dryer. The first coat I mix thin for maximum penetration. If the project is going to see sunlight I will replace the oil based varnish with spar varnish for some UV protection. Spar varnish does take considerably longer to dry than regular varnish.