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Tight and Taut,
Relax a bit and get too Taut this is a tuff one to learn, because we try and stress that the strop should be held tight so that when your new you don't mess up the edge, but the...

Is this a new strop??

The #127 and #8127 are basically the same strop other than the Russian finish if it is new you kinda need to take some time and break it in a bit
Use the heel of your hand...