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Step 1
First of all, it's best to hail a cab from the appropriate side of the street. If you're going downtown, get on the side of the street where the traffic is going downtown. This isn't necessary by any means, as most cabs will just turn around if they have to, but it will save drive time and also make it more likely for you to get a cabbie willing to take you to your destination.
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Step 2
Pick an appropriate spot. Don't try to hail a cab in the middle of some crazy intersection where the cars are whizzing by at 100 miles an hour. The cab will have to stop to pick you up and it won't want to cause a five car pile-up to do so, so try to make sure you're in a place where the cab can conceivably stop. But don't pick a deserted area either. Avenues or particularly busy side streets are usually ideal, and street corners are usually the best place from which to do your hailing.
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Step 3
Now's the part where you stick your arm out. Sometimes you'll find you need to step out into the street (especially if there are cars parked along the street) in order to make yourself clearly seen by the passing cabs. Don't be shy, and don't just stand back on the sidewalk with your hand meekly raised. Get out there and flag down your prey.
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Step 4
Speaking of your prey, bear in mind that if the light on top of the cab is not lit, that generally means it is taken, so don't get your hopes up. And if the little Off-Duty lights are lit, then that's no good either. (It can't hurt to flag these, just in case the cabbie is feeling charitable, though.)
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Step 5
Sometimes you will find fleets of cabs will go by with no results, especially if it's raining and everything is taken. Give your arm a rest in between waves of traffic, and then as each new yellow wave starts, get your arm poised and ready.
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Step 6
When one finally stops, you can usually just jump in and then tell the driver where you're heading. However, if you want to go to the airport or somewhere far off, you may want to duck your head in and ask before getting comfortable.
