I tried " sharpening" my clipper blades using fine emery.......... BLUNTED THEM! wouldn't cut at all after that! dunno if the stone is better? probably does the same thing!
You can use water, oil or even dry. The use of oil or water is to help keep the spent metal in suspension. Now dont use oil on a waterstone or water on a oilstone that already has been treated with oil unless you degrease it. I have several of the Harbor Freight two sided cheap whetstones I use water on. Buy 2 and use oil on one and water on the other. See the difference.