I am still working with the double knitting cotton as I can use a single thread in each slot. The outside of the braid has a uniform, smooth, outside edge as seen in the braid on the right.
A more textured effect is achieved by adding, in this case, a waxed beading thread to the brown double knitting cotton and so working with two threads in each of the four slots. 

The completed bracelets - smooth sided on the left and textured on the right. Sorry about the cheap fittingd but it's all that is available!