I just recently got into stropping. I didn't buy one, I just dug an old leather belt out of the closet, rubbed some polishing compound on it, and went to town. Here's what works for me;
First, I used my Sharpmaker to bring the edge to thirty degrees. If the knife isn't reasonably sharp already stropping probably won't do a whole lot of good. I rubbed the belt with a fine polishing compound. Generic stuff, nothing special. (aluminum oxide sounds pretty good. I think that's what Spyderco uses in their stones. Basicly synthetic saphire; pretty hard stuff.) Then I stropped with the edge trailing. Harder at first, but getting progressively lighter. (that trailing edge bit is important. Pretty much the opposite of what you'd do with a stone.) When I tried it out, the hair just about exploded off my arm. Your blade should be almost flat against the strop. Don't worry about proper angle; the flexibility of the leather does that for you.
Just out of curiosity, what are you trying to strop?