I like to use GSP for the loop. there are, however, many other suitable material available these days. The trick is to have something very strong, very flexible, very light, not bulky and ideally non water absorbent. Thats why GSP works so well, a small plus is it is lighter than water. I tend to use Aero Dry Wing (Tiemco)
The hackles need to be of a high quality with plenty of hackle fibres, especially when tying the dry fly. The stem must be very flexible and not dried out. The ideal hackles for tying dry Paraloop flies are saddle hackles from a good genetic hackle supplier like Hoffman Whiting Farms. The hackle used in this particular tying is a Hoffman saddle, furnace.
The dubbing I have used in this particular tying is Fly Rite polypropylene dubbing. This is excellent fine dubbing and ideal for using with dry flies because of its special properties.
Tying flies using the Paraloop method has continued to evolve and on the whole I now use what I believe to be a much simplified method. The method I now use removes the problem tyers had when winding the hackle back down over the previously wound hackle. It also removes the problem encountered by many tyers of not leaving enough room at the head to tie in the actual loop. In fact I now tie just about all my Paraloops without any head, tying in the loop directly behind the hook eye.
The following sequence should explain how I now tie most of my own Paraloop flies. Please forgive the poor quality of photographs I have just acquired a new digital camera and don't have the lens I would usually use for such work.
Place the hook in the vice and lay a foundation of flattened thread up to about halfway down the hook shank. Return the thread to directly behind the hook eye.
Tie in a loop. I like to tie it in first with the loop pointing over the hook bend and then pull over and tie in right up to the hook eye. doing it this way makes it very difficult to pull out. I still like to use GSP for the loop, it's very strong.
Now tie in a suitable hackle, directly behind the hook eye, where the loop is tied in.
Now wind the hackle up the post. I use a gallows tool as it gives greater control. As you wind, open the loop up every so often and compress the hackle down, using a dubbing needle. When there is sufficient hackle, open the top of the loop up and feed the end of the hackle in, this will hold the hackle securely.