I would put 'not too bad' above 'more or less.' In the UK we frequently say 'not too bad' to mean 'I'm OK/I'm quite good' so it has a positive rather than a negative meaning. Maybe people from other English-speaking countries will feel differently. Other than that, yes it is right. 'More or less' strikes me as a bit of a weird response to 'how are you' though. It doesn't seem like a complete response. You could say something like 'I'm more or less OK' to answer that question, and if someone asked 'Are you OK?' you could answer 'more or less', but I wouldn't expect to hear it as a response to 'how are you?' It doesn't seem like a complete response. Maybe the