Nods*
If you cannot get a razor edge on a stone, then you either 1.) Have a really crappy stone or 2.) Using the wrong technique
Someone else mentioned a tri-stone conguration. Yes... these are best, although unless you are sharpening a camping hatchet, or an aussie bushwhacker blade, dont use the most coarse stone. In most cases, its not necessary and will cause you significant time and elbow grease to produce a fine edge.
Now, if your blade is very dull, begin w/ med stone, and USE LUBRICANT liberally. Oil designed for stones is fine, but if you really want a tip, get some WD-40, and keep that stone completely wet. The purpose here is to "float" the steel cuttings to the surface and not get them lodged into the pores of the stone. This is even more critical on the fine stone. Whatever angle you begin with, stay with it! Dont change your angle.
I do not USE circular motion. This is horrible for the edge! Begin on the base of the blade near the bolster, and push the blade across the stone.... when you are 1/2 or 3/4 of the way through the push, rotate your hands some to cant the blade toward the slope of the tip. In one fluid motion, you should be able to cover the entire blade regardless of the length of your knife.
Other tip! DO NOT WORK ONE SIDE FOR A FEW MIN'S, THEN WORK THE OTHER SIDE!
Push the blade away from you once, then flip and bring it back with the same technique and angle. Flip it agin. Lather, rinse, and repeat.
Now, someone also mentioned Stoping the blade. This is CRITICAL if you want your edge to last. What happens here, is you look at your steel edge with a microscope, you will see microscopic "burrs" produced from the porosity of the stone (no matter how fine it is) it still produces burrs. These burrs, make your microscopic edge look like a mini saw-tooth. Its sharp as hell, and cuts like a razor for now, but it wont last, cause when you cut, your quickly knocking down all those burrs very quickly and thus your edge is dull again. By stoping it with leather at an angle, your removing all those burrs microscopically, leaving ONLY a clean fine edge that you can shave the popes neck with. And it will stay that way longer.
But if you dont have enough lubricant, the pores of the stone will fill up with metal frags, and the stone will no longer "cut" the steel like you need to. Use lots of WD-40. *nods
Side note: You dont need an expensive diamond sharpener to produce a high quality edge. All these do is take your money, and save you some time and elbow grease. If you are patient, and use the right technique, a proper stone set and leather stroping belt will will go head to head with any diamond sharpener on the market.