I like to thing the first few coats to a water consistency when working with wood to get deep grain penetration.
Do you thin it down with water?
Never used tru oil. I just use whatever’s campatible with what I’m using.
I’ve been using it for almost 40 years. It is a thin consistency out of the bottle. And l simply follow the instructions on the bottle. Patience and repeat. Note: l never remove the aluminum seal, poke two holes; one for a breather and one to apply. If you do remove the seal it can create a drying/crusty process of the product. Kinda like Gorilla Glue will do once the seal is broken. After each coat l wipe off the cap/bottle with rubbing alcohol for a good repeat/storage. I learned this the hard way 
That really does look great.
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Thank you sir! A rewarding project it was. The steel and wood come back to near it’s glory.