You will find many articles that suggest what you should and what you should not be doing when registering a domain name, but the best way to go about this is to follow a certain logic, if you want your domain name to be successful and bring a high density of traffic to your website.
First of all comes the most important of all the steps, which will set the foundation for success, this is of course the initial registration of a domain name.
You will need to identify the purpose of your domain name, is it for business or a blog? Will you be writing on it? Can it be considered technical or not? Will you be selling either a service or product with this domain name?
After having cleared up this point you may then proceed in registering a domain name which either has a clear sense, such as a product name or service or you can either use words that have not a direct meaning.
Obviously if you choose a domain name that has a clear meaning it will easy to remember and refer to. These will be the ones with the most traffic and are the ones you should be aiming for if you want to earn from your website.
The only problem with these is that many people will be using these kind of domain names and it may be difficult to find available ones.
Domain names that have no direct meaning must be creative and attract the readers' attention when they land on your website. In general they must be short, easy to remember and attention-grabbing. Usually such names are used for blogs, technical or non-technical related websites and business ones.
If you decide to choose a domain name with words that have a clear meaning, your next step will be to decide which name to choose. This is where key words to your particular service or product are important.
Just imagine your have a bed and breakfast you want to promote, your obvious choice will be 'bed and breakfast', of course it goes without saying that if you apply for bedandbreakfast.com you will find someone has already registered this name, so you will have to add a supporting domain name, for example 'best' or 'cozy' or again 'at the sea', any words that will be associated to this name when people are out searching for your kind of services over the net.
Next you will have to evaluate the traffic potential of your domain name by using services such as Google Trends or Google Keyword Tool. You simply add the name you have chosen and you will receive an assessment to the traffic potential of that particular name. In this way you can get an idea on how much traffic you will be receiving.