Einstein said what Larry is alluding to about insanity. My advice is that sometimes when you think that you are being frugal, you are actually just making more work and spending more money in the long run.
That being said:
I have not been happy with any cold bluing. The Brownells creme or liquid, Oxpho Blue, is pretty good, but requires a lot of patience with polishing and recoating. But, the color is REALLY nice.
One bit of advice, I think from Quickdtoo, was to preheat the barrelled action and to apply the Oxpho Blue to warm, almost hot metal. I think that I heated my parts to 150-175, guessing. Hot enough to steam, but not hot enough to sizzle when the cold blue was applied.
After cold bluing, I have been liberal with the CLP overnight and then wiping off excess.
Since you say that you sanded it then I assume that this isn't an heirloom type situation. Try another type of cold blue. If that doesn't work then save up and get it Parkerized, hot blued or one of the "wonder" coatings. If you really want to DIY then look at the Duracoat. I have not tried it. I am saving my pennies for some stainless steel to have my neighbor fabricate into a Parkerizing tank.