For Ed's red, I use any of the tranny fluids with charcoal lighter fluid. Usually 1 part tranny fluid to 3 parts lighter fluid. The lighter fluid is a direct and easy to find replacement for kerosene.
A tip for those that use lighter fluid for barrels or triggers- it is naptha that can be obtained cheaper by the gallon at a hardware store or as 'lantern gas' at a sporting goods store. I use it to clean triggers and to remove lanolin from cases/clean dies.