I've concluded that this is not really all that practical a sliding knot for an adjustable bracelet or necklace, but it's an interesting approach. Might work well with stiffer or smoother string, but in this coarse cotton it's not easy to slide the knots.
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To start a two-strand Matthew Walker Knot, one ties an overhand knot around both strands.
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The second strand is tied around both strands, also.
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The slack is worked out, and the loops rolled up over each other, to make a double spiral.
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The spirals are visible, but this is still pretty loose.
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If the other two strands are tucked right down the middle of the first knot, and the same knot is tied again...
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Then both knots snugged up, and slid together, this is how they come out.
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