In large bowl, combine butter, shortening, sugar, brown sugar, vanilla, and water. Beat until creamy. Add eggs and mix until well combined.
Measure out dry ingredients into bowl; mix gently right on top of wet ingredients. Stir together until everything is well combined. Stir in chocolate chips and nuts, if using.
Drop by rounded teaspoonfuls onto a cookie sheet.
Bake for 10-12 minutes (10 minutes for softer cookies, 12 minutes for crispier cookies).
Cool on cookie sheet for five minutes, then transfer to wire rack to cool completely. Makes 5 dozen.
Notes
Nutrition information is calculated for cookies made with 1 cup chopped walnuts. If you prefer to make the cookies nut-free, omit the nuts and add an extra 2 tablespoons of flour.
Replace half the flour with whole wheat flour. No one will be able to tell the difference.
Use milk chocolate chips, peanut butter chips, or white chocolate chips.
Add a cup of quick oats to the batter for extra crunchy cookies.