Wash and dry the 5-gallon bucket with mild degreasing detergent to ensure that you won't get any dust, grime or particles in your lacquer.
Measure out 1 quart of boiled linseed oil using the measuring cup and pour it into the 5-gallon bucket. If you want your finish to look more yellow than red, use tung oil instead of linseed oil. Tung oil is more reactive than linseed oil, so its color will change more over time. If you want your finish to look antique, use tung oil instead of linseed oil. If you want a more stable color, use linseed oil.
Measure out 1 quart of mineral spirits, paint thinner, turpentine or naphtha with the measuring cup, and pour it into the 5-gallon bucket. These products are all solvents, meaning they are liquids into which solutes will dissolve. Any of these products will work well for creating lacquer. Of all the options, naphtha dissolves solutes the quickest, but it sometimes creates a slightly cloudy finish. Turpentine is made from turpentine oil and has a very strong odor, but is very inexpensive. Mineral spirits and paint thinner are made from petroleum and are readily available at home-improvement stores.
Add 1 quart of varnish to the mixture. You can use polyurethane as the varnish component of your homemade hardwood floor lacquer. Polyurethane is one of the most commonly used wood finishes today because it's tough and resistant to scratches. Another product you can use for your varnish component is spar varnish, which offers increased ultra-violet protection and elasticity; if your floor gets lots of direct sunshine, consider using spar varnish to prevent discoloration.
Swish your lacquer around in the 5-gallon bucket with the wooden stir stick until all three components have dissolved. Use your homemade floor lacquer immediately, or cover the bucket with a tight-fitting lid and use it within a few days.