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it depends previous condition of the edge.
if 5 didn't do the job go head make 5 more and see. you can do 5 each time and check the edge.just don't too many laps.
will brake the edge,

using lather.oil or water or dry depends on stones. if your stone says don't use then don't.
i use dry and just test purposes only.
Yes you can use as a 4k level similar to norton 4k level.

4k level



4k level

i have couple of them. great hone. you will love it.
it is not as aggressive as Carborandum.
will put fine edge.
stamped side is fine side.
have fun.