Good technique. I use it 50:50 with another no-knots technique.
Sorry, my english is not good enought for description. But you can found it here on forum too. Loop is for 2 threads, I use another technique for 1-3-...threads, cross stitch or backstitch. It hold tight, no worry.
//www.pindiy.com/thread-328-1-1.html
Only difference I make is, that I start pin needle from back, not front side. Many my cross stitch-frends use it to, it really hold good.
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An owner of a needlework shop introduced me to this method maybe 20 years ago. That and Q snaps. <3 I've thought it was the best thing in the world ever since!
I use this one only when I work with Whisper. For anything else I run under the stitches. And I don't like that with the loop the thread can run a bit if you pull it, and then the loop itself comes out on the face. Yes, it gets covered with the top half of the stitch, but I still don't like it.
The only problem I've found with the loop method to start is when odd number of threads are needed. I find 2 isn't quite enough - but 4 is a little tough...