B,
For a more visual aspect and additional info on strops in general, here's a good video by Lynn.
I too use my strop held out flat, proportional to the angle it's hung, but not pulled with any more tension than to level it. It does sag slightly from the razor contact. Light pressure as in keep the razor spine in contact with the strop and the edge also lightly contacts. Takes some practice, but you'll develop it pretty fast.
:gl:
Howard :)
Straight Razor Stropping for Beginners - YouTube