How to Create Soft Bouncy Waves on Super Straight Hair

Whenever I see women with soft siren-like waves I am filled with hair envy. I have super straight hair that doesn't hold a curl. I have tried braiding wet hair at night to achieve those enviable waves, but wake up in the morning to hair that looks slightly crimped instead. I have also put my hair in a bun at night and while that method achieves lots of volume there isn't much curl. While not perfect I found that the best way for me to achieve the wavy look has been to use a curling iron. While curling with an iron initially works the wave has gone out of my hair in about an hour. So I continued to experiment and after much trial and error I think I have found out how to get (and keep) those must have waves. See the video below for my step-by-step instructions.
So what do you think of the results? Is having waves for a couple hours worth the effort? Do you struggle to add style and texture to your straight hair?