I've seen a lot of people have trouble with this. It's common to have trouble trying to sit on a water bed, since you can't sit the same way you might sit on a normal bed. Many people try to sit on a water bed just like any other bed, but you can't sit on the edge the same way.
    Ways to sit:
  • On the very edge of the bed. This is the easiest way. Sit on the very edge of the bed so your center of gravity is positioned over the frame, not the mattress. This can be uncomfortable if the frame is narrow, but many water beds come with pads that go over the frame to make it larger and softer. They can also be bought separately. This is the easiest way to sit on a water bed because you pretty much take the water out of the equation.
  • Far back on the edge. Sit down as far back as you can, but with your legs still hanging over the sides. Your calves should be touching the frame. This should allow you to get enough support from the mattress to sit up comfortably. When you are ready to get up from this, do not scoot forward. Lean forward until your weight is over the frame, then stand (or slide/scoot forward as necessary). This way is harder to use than the previous one, but it is somewhat more comfortable. If you plan to sit on the side of the water bed for a long time, you might occasionally want to switch between these two.
  • In the center. This is pretty easy, too, at least once you're there. The mattress, if it's filled properly, will give plenty of support, and you shouldn't have much trouble. Sit cross-legged or leaning back, whatever you like. It's not hard to sit in the center, but be careful not to put too much weight in one spot, or you will sink. The problem is when you try to get out of the bed, and have to deal with the edge again.
Whatever you do, do not sit with the frame halfway down your thighs. This is what most people seem to do when they sit on something. It's probably the most comfortable usually, or perhaps the best average between right on the edge and way back, but in this case it means your center of gravity will be directly over the gap where the mattress curves down before meeting the frame. This means you'll fall backwards, your ass going into a crevice*, your feet into the air, and you may find it difficult to right yourself. By the way, the easiest way to do that is to roll over.

*Somewhat ironic, given that the crack is usually in the ass. Butt I digress...

I apologize for the pun. I just can't seem to bring myself to remove it.