Legendary Pokémon

Find the Pokemon's Statistics!

First thing you want to do is find the pokemon's stats. You'll want to know what its base stats are, its egg moves, its level up moves, and, if it evolves, the stats for those evolutions. This will help determine how you want to raise the pokemon.

Items You May Want!

99 Rare Candies so you can always be sure about your pokemons IVs.
Everstone, Power Anklet, Power Band, Power Belt, Power Brace, Power Lens, and Power Weight are all used in breeding.

Breed for Moves!

Before breeding for IVs, or individual values, you'll want to breed for moves. Moves that that pokemon are not normally born with are classified into three segments. Egg, TM/HM, and Level-Up moves.
Egg and TM/HM moves are only able to be passed on by the male pokemon. Level-Up moves are moves that both parents have to know and the child pokemon will eventually learn.

Check for Sex and/or Status!

OPTIONAL

If you have multiple games you may want to breed for sex and/or Shiny status. For example, I have Pokemon Platinum, HeartGold, and Black Versions. I chose to breed my pokemon platinum to be female, HeartGold to be Male, and Black version to have shiny pokemon.
If the pokemon only has one gender that pokemon goes to both games. Now as shiny pokemon are so rare it will obviously take a long time to complete the pokedex entries for those pokemon, but if you have access to the Global Trade Station, GTS, you can possible make that time considerable shorter, by getting a foriegn pokemon you can enact the Masuda Method. The Masuda Method states that if two pokemon are of the same game laguage the chance of getting a shiny pokemon is about 1/8192, but if one pokemon is from a different game language the chance increases to about 1/1639 for Generation IV and 1/1366 for Generation V.
Now thats increases your chance by about 499.8% and 599.7% for each generation. If your doing this the best pokemon to get is a Ditto, because of its ability to breed with all pokemon.

Check Ability!

You may want a certain ability for a pokemon. Some pokemon have two or three abilities. So you may want it to have a certain ability that goes along with your fighting style. There is no way to make sure a pokemon has a certain ability, and you cannot give a pokemon an abiliity that it doesn't already have access to.

Check Nature!

There are 25 natures for pokemon. While five natures do nothing but look pretty on the screen (Bashful, Docile, Hardy, Quirky, and Serious), the other 20 affect stats. Natures give one stat a 10% increase in power and another a 10% decrease. The only stat not affected by a nature is HP. If you want to pass on a certain nature make sure the mother pokemon has it and give her an everstone (not 100% increases chances by 50%).

Check the IV's!

Idividual Value is the added bonus to a pokemon's stats. The range of the bonus can be from a measly 0 to a massive 31. A pokemon inheirits 3 IVs from the parents 1 from the father and 2 from the mother. You can determine 2 of the IVs by having the parents hold Power Items, otherwise the two if only one parent is holding a power item or all three are inheirited at random. The remaining three stats are always chosen at random. Use the Power Weight to recieve HP, Brace for Attack, Belt for Defense, Lens for Special Attack, Band for Special Defence, and Anklet for Speed.
For the easy way use Legendary Pokemon's IV Calculator, but if you don't have internet all the time here are the IV equations:
Hp iv=((s-L-10)(100/L))-2b-(ev/4)v
Atk/def/s.atk/s.def/spd iv=(((s/n)^-5)100/L))-2b-(e/4)v

s is the stat number
L is the poke level ( works best if it can be divided by 100 evenly)
b is the poke s base stat
e is the ev
n is the nature code (plus side: 1.1; neutral side: 1; negative side: 0.9) <- what to put in
v is telling you to round down
^ is telling you to round up
If you need base stats pm me i got all of them.

thanks To Kingnothing412 for aluding me to masuda method
bulbapedia for the equations.
Every one who actually uses this guide.
and legendarypokemon.net for being a great forum which led me to create this guide.
This guide is mine. I created it to help others understand how to breed, so feel free to post it anywhere else. Just remember to give credit.

Very nice. Although I already know about breeding etc, I have to congratulate you for this guide.

Great guide man This will help me a lot when explaining stuff to newbies xD

thanks now i can serch for what i need and start to leave the noob feild of pokemon

Wow guide is useless now for x and y

New option for x and y. You can now "predict" what stats for the egg you want will be. Makes it a whole lot easier for breeding and getting that 5 perfect 31 iv pokemon. Catch two magicarp of opposite genders and store for only prediction purposes. Take those two magicarp to the battle institute in north Lumiose city. Save before entering the he institute. Enter each of the magicarp and write there stats down. Try making sure they both have different stats. Then go to Camphire Town and ride your bike to the Pokemon Day Care. Put the Magicarp into the day care while one of the is holding the destiny knot. Run around til you the husband has an egg. DO NOT GET THE FIRST EGG. Save your game. Run around til he gets another egg and get that one. Hatch it and and use the battle institute again. Compare which stats the parents gave your new magicarp (example mother has 95/25/61/27/33/85 and father has 86/28/63/30/40/82 and the baby got 86/26/63/30/33/85 the baby got its hp defence and special attack from its daddy while it got the special defence and speed from its mommy with attack being a random wild card) Soft reset and breed the pokemon you want to get with applied stats. With the pokemon you can get your nature by having the parent with nature hold everstone.