And this is how my "perfect picot" is done. It is not my technique but stitched according to Janice Love's instructions.
I am working in a counter clock direction.
Weave (or wrap) your bar to the half way point.
Make another stitch in the same direction as your last weave. (half a weave)
Be sure the thread is laying to the RIGHT of your needle. Now lay it over the needle, to the left and under the needle back to the right. Gently guide the thread towards the wrapped bar, do not pull tight.
Carefully pull the thread away from the woven bar to form your picot.
Be sure not to pull too tight, you do not want a solid knot.
With the tip of your needle open the picot slightly before you continue the weaving.
The loop can be enlarged a tad bit more when you are done with the bar,
so be sure not to open it too far at this point.
Complete the wrapped bar.
Hopefully this helped take away the fear of picots.