I use an oil stone and old shaving strop for my chisels (once ground) and they take the hair off my arm easily.
The strop (or any coarse leather, like the back of an old belt) takes the fine burr off the edge. The shaving strops might have had some cutting compound in them I suspect. not really sure on that but Iv used plain leather and it does the trick.
If sharpening knives and chisels, get two stones. One for chisels and other flat blades only.
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