If by personal path you mean inventing your own practices and be free from any responsibilities and external initiations, then I doubt you will be able to invent practices on your own, which will be at least as good as those, which are kept in secrecy by well-established Magic Traditions.
Some people like to indulge in self-deception with eclectic approach personal paths, but if you want power (real power), then you need to seek actual authentic Traditions and real practitioners.
@Alarion: I disagree with your statement.
I personally believe that you do not need to follow any particular tradition or path to achieve results.
Where do you think that they came from? They themselves have been created.
People are free to pick and choose what they wish to do, to believe in, to practice, and it does not make them any less successful than compared to someone who follows the strict teachings and practices of a particular tradition.
Yes, you can create your own practices, your own beliefs, your own deities and whatnot. You can follow it and you can achieve some results with it. However, what do you think will be more powerful and effective: a tradition with one follower or a tradition, such as the Egyptian deities, that has had the energy of followers for thousands of years pumped into it?
You should also look at the reason for your wanting to create your own tradition. I do not mean the psychological, egocentric reason (although that would be the first thing that I looked at) but rather what goal are you trying to achieve with it? Spiritual development and enlightenment? Personal power? Fame and fortune? Depending on your reason for wanting to create it, you may want to examine more traditions in detail first. No need to reinvent the wheel.
As far as your original post, which I believe was directed at becoming eclectic, working with deities and practices from various traditions, you certainly can. However, I would recommend that you do choose a tradition as a starting point, learn at least the basics from it, and then modify or add to it as you see fit. That time spent learning the foundations will not be wasted.