I see you have been getting a lot of advise, and I am offering you a quote from Jason Stewart of the Marbles knive co. Personally I purchased a $40.00 six inch Delta bench grinder and dedicated it just for this job.
"You most likely will get the best results, however, by using a stitched muslin wheel and then a loose wheel, both made of cotton.
On the stitched wheel, use a black greasy compound (about 600 grit) that you can obtain most likely from the same place you're getting your white compound. Lay the blade against the wheel at a slight angle (12 to 14 dgs.) and apply firm pressure, starting at the choil and working your way to the tip. One or two passes on each side should do it. COOL THE BLADE with water.
Now, use "knifemakers green" compound, also easily available through Koval or Brownell's, on the loose wheel. Be careful, these are grabby wheels . One or two passes on each side should work. Now you're done. By the way, you can probably substitute the white compound you have for the green.
Don't hurt yourself ."