Would almost have to write you a book to answer your questions. I would also need to ask you a bunch of questions first, but maybe I can sum it up.
You have one hone? Is it a finishing hone or medium grit?
If your razor has a good bevel or edge and you have a finishing hone, you can get good results. Does it feel like it is cutting into your wet thumb nail when dragging the edge acrossed it? Start dry then wet then finish using lather. Piece of cake?
If your razor needs edge work you can accomplish this with the medium grit hone, but will not be able to get the razor keen enough to shave with.
Send us a picture of the razor will help us around here to.
"...never doubt that a small group of thoughtful people can make a difference, in fact it is the only thing that ever has."
- Margaret Mead