A stochastic theory of charge exchange fluctuations in ion transport i
s introduced based on a master equation for the probability of finding
ions in appropriate phase space locations, When energy losses are abs
ent, a forward master equation is obtained which is solved exactly in
the binary charge state case, The equilibrium probability distribution
is shown to be a binomial distribution and differs from that at small
depths. In the more general case a backward master equation is derive
d for the multi-point probability distribution function, from which an
equation for the average charge state is obtained.