1. open GIFcam and re-size - if you're GIFing an online video, re-size GIFcam to fit the video window, or if you're GIFing a file you've downloaded just make the player window smaller and re-size GIFcam to fit that.
2. choose your settings - under the 'rec' drop down menu, select either 10, 15 or 30 FPS. 30 works well for short gifs you want shown in good detail, 15 for anything longer and 10 for really long gifs or if you've linked multiple spots together.
3. record & edit - hit record once to start the gif and again to end it. Then go to edit and cut any unwanted frames from the start or end (right click, delete from this frame to start/end)
4. save & re-size - save the image in GIFcam then (if necessary) open up your favourite image editor and re-size the GIF. Remember, re-sizing can cut a TON off the file-size. After you're finished, save the image, but be sure to set the right frame delay for your chosen FPS - for 10 FPS you'll want a frame delay of 100 milliseconds, for 15 FPS it's 60 milliseconds and for 30 FPS it's 30 milliseconds.
5. host your GIF - pick an online host like min.us or abload.de that allow for 5mb+ GIFs and upload your file.
Alternatively, just watch me make a gif;
Part 1
Part 2
Gfycat is so awesome. Would be great if GAF allowed us to embed HTML5 "gifs".