But what about the parachute?????????

It will be tied into the system between the end of the cord and the towring. Matter of fact, chutes usually have a towring sewn into their very top. The end of the cord is tied to the "bottom" of the chute, to the end of all the shroud lines. The lines come together at the bottom and usually are tied to a very small ring. The towline ties to that.

When the glider's towhook is hooked into the ring in the top of the chute and you start walking to stretch the bungee, the tension on the line pulls the chute closed. As long as there is tension on the towline, the chute will stay closed. During the launch, there is TENSION. As soon as the airplane pops, the tension is gone. And the chute is probably still moving with some speed. It'll POP open.

The wind will then carry the chute straight downwind. It'll usually pull the cord out and keep it straight and with some length. It'll wind up indicating to the next glider flyer EXACTLY where he should line up his launch since he'll want to launch directly into the wind. When he picks up the chute, he can look back at the pin and know that he's looking straight upwind.

It's magic.