Video by Dylan From: http://musclerecoverytips.net
Here's how I like to do my Ice bath/Cold water baths.
The key points:
1) Temperature should be 50-60 degrees Fahrenheit. You can go colder, but there's less return in positive effects. Plus most baths can produce water this cold anyways. Makes things easy.
2) Time your bath for 10-20 minutes. It takes around 8 minutes to start to get noticeable effects, and anything longer than 20 minutes is overkill.
3) You'll only need to submerge half your body to get most of the benefits, however I find to get the most out of the bathing time I like to get my upper body in the water. Fulling submerging at this point can also be very beneficial thanks to the mammalian diving reflex. (http://en.wikipedia.org/wiki/Mammalia...)