You want to jump out the plane and push yourself in the direction you want to go using your forward key "w" by default.
After you have pushed yourself in the direction as soon as you see your release parachute key pop up that it can be pressed, you want to press it at that point.
Once the parachute has been deployed you want to swing yourself back and forth just as if you you were on a swing set by holding the forward key and then letting it go as your feet come back.
Just repeat this until you reach your goal. You can also adjust when you release the parachute of course if the distance is not as far.
It has been useful for me at the start of games for getting geared up in areas that are not as populated with people dropping.