Nitric acid+water+iron= stain.
A simple, although unpleasant and hazardous operation.
DO THIS OUTSIDE, AWAY FROM EVERYTHING.
Take a glass jar with a mixture of about half nitric acid, half water (the exact ratio seems to matter not), filling the jar about halfway. Add small bits of iron/mild steel. Old nails are good. I don't know about new Chinese nails. Who knows what junk is in them. Find some old nails. DON'T use steel wool!!! Yes, it will work, but, the reaction is much too fast, the solution will get HOT, and it will belch forth great clouds of red death. DON'T DO IT. Now, I will admit, that when I do mine, I will drop in a tiny bit of steel wool, just to give it a jolt, and get the reaction started.
Put your nails in a few at a time. Watch them bubble and melt away. When the nails are gone, drop in a few more. Yes, it takes time, but what else are you doing? Could take a couple of days for it to stop dissolving the nails. Keep going until it quits. (actually, I think it will probably take a LONG time before it really quits, it just slows down quite a bit). It seems to work better with age too, but will work fine right away.
Oh, and I seem to get different-looking results every time I do it. Sometimes, I get a clear, almost colorless liquid, with no sediment at all. Sometimes I get a clear, yellow liquid, with no sediment at all. Sometimes (and I think this is from my earlier use of steel wool) I get a cloudy orange liquid with LOTS of sediment. ALL of them work fine.
You can dilute it more, but all you are doing is attempting to stretch the stain out. I have found that diluting the mixture has ZERO effect on the final color. Can't make it lighter, can't make it darker. It does what it does and that's it. Now, you can dilute it so much that you simply don't have enough acid to work properly on the wood, and it doesn't change color well, if at all. You slop the stain on the stock heavily. The water evaporates, leaving the acid/ferric nitrate/whatever. So, it doesn't really matter too much how much water you had to begin with...
Stain then heat. I will end up staining the stock several times to take care of any spots I missed either with staining, or bad spots in the surface of the wood I didn't see before and I have to fix them and restain. The stock should probably be stained twice anyway, just to ensure good color evenly dispersed.
When satisfied, neutralize with a lye solution. I suppose you could use wood ashes, but I just bought some lye from the grocery store. Do as I say, not as I do, and wear rubber gloves. The lye will melt your fingerprints off. I don't know what kind of solution I use. I just have a jar of water, and I drop some lye in it....my solution is probably fairly strong.
Then, wash the lye off the stock with water. I blast it off with the water hose. Water won't hurt anything.
That's how I do it, anyway.