Geo Bell 26/12/2015
Mnemonic Induction of Lucid Dreams (MILD) is a technique created in the 80s by lucid dreaming pioneer and researcher Stephen LaBerge. LaBerge formulated this technique as part of his PhD studies on lucid dreaming at Stanford University, California.  Since then, it has been refined, shared and mastered by many oneironauts worldwide, and is arguably the most effective cognitive technique for inducing dream induced lucid dreams (DILDs).
Mnemonic stands for memory aid. The basis of the MILD technique is for the dreamer to remember his or her pre-dream intention to remember to realise that he or she is dreaming. This technique therefore relies on the dreamer's prospective memory, which strengthens with practice.
Remembering to do something in the near future is much easier than remembering later on. DILDs occur during periods of REM sleep; which increase in length and proportion of sleep later in the night.  Performing a Wake Back To Bed is therefore extremely benefitial, as the time spent between practicing the MILD technique and entering a dream will be much shorter than if used at the start of the night.
Read more: Wake Back To Bed (WBTB) Technique
How-to: MILD technique
Step 1: Focus your intent. while returning to sleep, focus on your intent to remember to recognise you're dreaming. Tell yourself "The next time I'm dreaming, I will realise I'm dreaming." Repeat this to yourself as you also practice Step 2.
Step 2: See yourself becoming lucid. Whilst still thinking about your intention in step 1, visualise that you are back in a recent dream, and that you become lucid in it. Look for a dreamsign in your memory of the dream. When you see one, say to yourself, "I'm dreaming!" and imagine doing a reality check. Picture yourself doing whatever it is you want to do when lucid.
Step 3: Repeat steps 1 and 2 until your intention is clearly set, and you feel confident that you can become lucid in your next dream. If your mind begins to wander as you drift off to sleep, repeat the exercise from the start, so that the last thing on your mind before you fall asleep is your intention to remember to notice you're dreaming.
Adapted from (LaBerge, Phillips, and Levitan, 1994) cited in 
1. LaBerge, S. and Rheingold, H. (1997) Exploring the world of lucid dreaming. New York: Ballantine Books.
2. Hobson, J. (1988) The dreaming brain, New York: Basic Books.
3, Erlacher, D. & Stumbrys, T. (2014) 'The Science of Lucid Dream Induction", in Hurd, R. and Bulkeley, K. (2014) Lucid dreaming. Santa Barbara, Calif.: Praeger.