A waist-mounted parachute deployment and retracting system for training runners and other athletes that provides a user a method for selectively deploying and retracting the parachute during training without stopping or breaking stride. The parachute provides drag to increase resistance to improve performance by overloading the muscles. The user selectively deploys the parachute by pressing a button to release and open the parachute. Air flow created by the user's forward motion flows through a pair of ports on the side of a case holding the parachute. The air flow expands the parachute, causing the cords attaching the parachute to the case to extend and wind a recoil mechanism. The user selectively retracts the parachute by pressing a button to close the parachute and the recoil mechanism rewinds the cords, pulling the parachute into the case, ready to be deployed again when desired.