Here's the thing about finger picking techniques, just using the forefinger you have just one considerations that really applies and is fundimental, where do i swing from?
Aside from all the other issues, this is the one to address as it is the last link in the chain because they touch the strings, as are all the positions i will go through.
Do you swing from the knuckle joint or the 1st joint ( if we assume the fingers have the knuckle joint, a 1st joint and a 2nd joint in each finger, in each hand) or is it a blend of the two. As there is only one finger involved there are no real problems, its just playing on the up strokes.
Introduce the middle finger and its much the same thing to address but now with alternating fingers if so desired. The issue of which finger to start on is one for the brain to sort out, its not a co-ordination thing.
Some people find it easier to start on the index finger, some on the middle finger, it makes no difference to your hands or fingers which one you start with.
It is a back and forward motion and that's how the brain will perceive and deal with it. Regardless of which finger you favour to start with, if you start with the one you don't favour your brain will give you that one for free and carry on with the motion of back and forward.
This is most noticable if you start with the middle finger, after one stroke you are back on to the forefinger and alternate playing, and that's the point do you play alternate finger style 100%.
Introduce the ring finger and now its a different game, you have a new choice, left to right or right to left, and your brain will want to get involved to add to the confusion.
Is it easier to start ring, middle, index, and continue that way, or should you go index, middle, ring and contine that way, or start ring, middle, fore, middle, ring and continue that way, or fore, middle, ring, middle, fore and continue that way.
How about a two finger style and the ring joining in on say changing strings or octaves, or triplets etc. The two finger style can be any mentioned, or add a new one.
Index, ring finger is a good option as it still is perceived as a left to right or right to left by the brain as well as an alternating style by the hands and fingers.
Why, well the ring finger and the index finger have a different nerve and muscle group to call upon, but will share action when the middle finger is involved. The hand has a great way off "shutting off" the influence of the ring finger on the middle finger.
As the ring finger and the little finger share the same nerve and muscle group the action of curling them in to touch the palm of the hand will stop there influence. Thats why if you have something delicate or tricky to do with your fingers that requires control and precision you will approach it with your thumb, index and middle fingers with your ring and little finger tucked out the way.
If there is a pen or pencil near by pick it up and see the action for yourself. That action is why the nerves and muscle groups are split in the hands with power and strength coming from the other side which is the little, ring and middle finger.
Now add in that little finger and you have a definite left to right, right to left motion to contend with in four fingers.
The motion is always easier coming from the little finger as that comes from the power side with the dexterity side following, very much like a wave crashing onto a beach, the fingers roll in after each other, a bit like galloping as used by Steve Harris of Iron Maiden.
The one digit not mentioned is the thumb, it can blend in with any of the techniques mentioned as it is opposable to all the fingers.
As for exercise there are two main ways to work each will target different muscle actions so give you very different results
these are called twitch exercises and fall in to to groups, fast twitch and slow twitch response. These exercises are part of Plyometric Training.
Slow twitch fibres are fibres that are responsible for the strength and endurance of a muscle only, and not the speed in which a muscle contracts. And a slow twitch response is defined as one where your muscles can undergo extensive repetitive contractions before fatigue, that is, before getting tired.
So playing your bass can be considered a slow twitch exercise as it is preforming set movements with in the range of the technique being used, i.e.; the fretboard and the plucking hand. This will build up stamina and strength. This is because the fingers never get to preform the full extent of their motion, which is from a relaxed state to a fully extended state. it can be liked to training in sports where strength is foremost not speed and agility. How many weight lifters, shot putters, etc can out run an high jumper, runner gymnast etc, and vice versa.
Fast twitch fibres are responsible for the speed of muscular contraction, and a fast twitch response is the ability of a muscle to rapidly contract to a specific distance over a short period of time.
These exercises are target specific to speed and movement. Martial artists, boxers, sprinters, gymnasts etc., have trained these muscle groups for that purpose, thats why the do not have the muscle bulk of sportmen and woman who use predominly slow twitch exercises.
So to your hands the most effective fast twitch exercise is to warm up you hands with some slow stretches and for five minutes. Now support the forearm of the hand to be exercised with the other hand, and hold it in front of you at a comfortable level. Now close the fingers and as fast as you can, fully open and close the fingers as fast as you can. The object is to count how many times you can do this in say 10 seconds and stop. Repeat the process with the other hand. The object is to count how many you have done in the 10 seconds and improve how many you can do, it is not about going for longer, that takes you into slow twitch territory, its about getting a faster response in the set time.
Once you reach your optimal level and and can easily repeat the amount you can do, add 5 second to the time and now repeat the process for 15 seconds. I would say 20 seconds for each hand should be the max. for this exercise for bass players.
If you want more info on these techniques, do a search on-line for Plyometric Exercise or Twitch Response. It goes without saying that these exercises should be pain free and done with a responsible attitude as part of and exercise programme specific to the player using them. If it hurts stop and get medical advice.