I generally don't use stains or dyes, other than to even out the colour of a refinished stock. In other applications, I have always used min-wax products, oil based. They usually have samples in the store (Canadian Tire or Home Hardware), pick the colour you want, rub on to a well sanded surface (maybe finish with extra fine steel wool almost polishing the raw wood), let stand a few minutes and rub off (and in), repeat until the desired shade is reached. Denser wood will absorb less. If you find the colour you selected is too light, you can always go to a darker stain, if it is darker than you want, you will have a bugger of a time lightening it up evenly. Boiled oil is fine after the stain is completely dry (12-48 hours), add a few drops of Japan Dryer to a an ounce or so of oil, and mix before application. Discard any treated oil you don't use. Remember, the oil will have a bit of a darkening effect as well.
I use Minwax tongue oil. Same look, but a more durable finish than linseed oil; not as stupid glossy as Tru-Oil. BTW tongue oil is the main ingredient in Marine Spar Varnish so is very durable in all conditions.
Just remember, there is no one right way.