How to Sharpen a Draw knife
by Cariboo Blades Tools & Knives
Woodcarving and Timber Working Tools
Hand forged, handmade log shaping and peeling tools from British Columbia,Canada.
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An Arkansas oil stone. Water stones are just as good.
Put pressure down against the stone as you draw.
Follow through using the whole length of the stone.
A series of sharpening dowels. 400, 600, 1000,1500 is really nice to have.
It is very important to keep a consistent straight stroke pushing off.
Your draw knife will get razor sharp.
Perform this step first just to clear the bottom edge of the draw knife of any burr. In sharpening these knives. 90% of the material should be removed from the top unless you want to adjust the angle of contact with your work.

Place the back of the blade flat on your stone. Slightly angle your stroke position.
Begin to draw towards yourself. Adjust the angle so that the edge just comes into contact with the stone.
Just slightly shave the stone.
Follow through as you are leaving the stone. Repeat this step coming down the stone with the blade at the angle that is mirror image to the one shown.
Most of the sharpening can be done with a 2.5 cm diameter, 30 cm long dowel (broomstick) wrapped tightly with a piece of 400 grit auto body sand paper and stapled 3 times.
Stay at the same angle with each stroke pushing off at 25%. Follow through when you are leaving the edge.
Repeat step I to remove the burr.

Step I
Step II
Step III

If you are using the knife everyday keep your edge sharp. Cone stones are great push into the edge once every week or two just to keep the edge angle flat. Hone with the dowel sharpening stick at the same angle. Rounding the edge won't be a big problem. On some woodworking hand tools like the draw knife, adze or even a hook knife, a slightly rounded edge is preferred to keep the knife from sticking in your wood.
A honing dowel is a piece of 6 or 8 oz leather, glued with contact cement and wrapped tightly on a piece of dowel. Rub in some honing compound like a jewellers rouge and push the dowel through the knife's edge and off, removing the burr and any wire edge.
Hone the back edge on leather rubbed with compound, glued to a 2.5 cm x 10 cm x 30 cm board.
*  Please note that it is important to follow through on each maneuver. Don't lift off.