Preloader Component

Hi, i am working on a preloader, that could be used as drag a drop component… the basic idea is to make a preloader that could be place in any movie and it shows it loading progress…
here is the code

this.parent.loaderInfo.addEventListener(Event.COMPLETE, downloadComplete);
this.parent.loaderInfo.addEventListener(ProgressEvent.PROGRESS, downloadProgress);

function downloadComplete(eve:Event):void
    this.visible = false;
    trace (;

function downloadProgress(eve:ProgressEvent):void
    var loaded:Number = this.parent.loaderInfo.bytesLoaded;
    var total:Number = this.parent.loaderInfo.bytesTotal;
    var percent:Number = Math.round(loaded/total *100);
    trace (percent);

the problem i am facing is the ProgressEvent is fired when the movie is completely downloaded… how can i make it work