Picture stolen from the internet.
That's how I've always sharpened my chisels. I suppose my grandfather probably showed me how back when I was a kid. I can grind the shape fairly quickly, then simply set it on an Arkansas stone with some oil, or even a finer carborundum stone, and easily hone it up in short order. It is easy to rehone this way, as necessary. Your honing angle is set by how it is ground, you just hold it against the stone at that angle. You can rehone this several times before you end up scrubbing out all the hollow, and you'll end up with something that is probably like the bottom picture (or convex, which is effectively the same thing), and you can go this way for a while, but you lose the ability to rehone without regrinding (and it doesn't do very well trying to cut with the chisel upside down, which I have to do OFTEN because I can't get at the area to be cut by laying the chisel flat).
I'm not so good with gouges. They can't be ground this way, of course, and it takes more care and diligence to sharpen them.