I use hones and don't have experience with using pastes for honing, so I really can't give you any suggestion on that.
It'll probably work but you may have to experiment a bit and you'll most likely end up spending way more money and more time, but if that's the way you want to take nothing wrong with it.
Of course, the cheapest and best bang for the buck is to have the razor honed by somebody with the hones and experience to use them, and then just maintain it sharp, but it doesn't seem you like that.

If you understand german or french you should take a look at the big european forums for honing razors with pastes.