Originally Posted by
JiveTurkey
I use Sheldon's method:
http://sheldonbrown.com/derailer-adjustment.html#chain
Wrap the chain around the largest chainring and largest cog (bypassing the rear derailleur). Find a length that is just long enough to connect (inner plate to outer plate), then add one full link (inner plus outer).
The Sheldon Method is basically the SRAM Method, also known as "Big + Big + 2", i.e. wrap the chain (without dérailleur) on the big chainring + big cog, and add 2 links (what you call "one full link (inner + outer)". Interestingly, the Shimano Method is different, and insensible to largest cog dimension: big chainring + smallest cog, ensure the 2 RD pulleys are in a vertical line. Also interesting: for "smallest cog of 15 or 16T"(!), they revert to the SRAM Method (big + big + 2).