Knitting socks two-at-a-time is the only way to go! Not only do you have both socks finished when you get to the end of the pattern, you have all of the changes -- toes, heels, patterns -- done simultaneously. There is no counting of rows to figure out where you did something on the first sock so you can make it happen at the same place on the second one.
I don't know about you, but I'm never certain that I've seen all the stitches and counted the rows correctly. In the end, all that counting becomes an educated guess. Most of the time, I get by with it. Other times, it's frogging time. Why set yourself up for that sort of stress when there is a better way?
I struggled to get started with two-at-a-time toe-up socks. Now I love them! I record here what I've learned in the hopes it helps your experience easier. As an FYI, the pink socks were knitted by this pattern with a k2,p2 ribbing used on the ankle section.
I've added a list of favorite sock books at the end of this post. They are great resources. I recommend them whole-heartedly. They would make a great foundation for any sock knitter's library.
Now -- on to the directions:
Needle size is determined by the size of your yarn. See ball band or chart below.
Suggested Gauge and Needle Size
From p. 9 Sensational Knitted Socks
Yarn Weight Stitch Gauge per Inch Needle Size
Fingering.......... 8 ½- 10 st. .......................... U.S. 0 (2.0 mm) or 1 (2.25 mm)
Sport ............. .. 7 ½- 9 st. ............ .......... U.S. 2 (2.5 mm)
DK.......... .......... 6 ½ to 8 st. .......... .......... U.S. 3 (3.5 mm)
Worsted .......... 6 to 7 st .......... .......... ....... U.S. 4 (3.5 mm)
Yarn: 2 balls of yarn (one for each sock). Total amount to be determined from chart below. Choose your fiber according to the person who will wear the socks. (Don’t give hand-wash only wool to a person who puts everything in the washer.)
Approximate Yards Needed For a Pair of Socks
From p. 9 Sensational Knitted Socks
Yarn .......... ....Child.......... Child .......... Women .......... Men
Weight.......... (Small) ...... (Medium)
Fingering.......... 275 ........ .....340 .......... .....430.......... ..... 525
Sport................ 215 .......... ...275.......... ..... 370.......... ..... 430
DK................... 200 .......... ...250.......... ..... 340 .......... .....400
Worsted.......... 185 .......... .....215 .......... .....310.......... ..... 370
Measure foot for the socks.
Sock should be approximately ½” narrower than the width of the foot. Finished sock should be ¾ to 1 inch shorter than the foot due to the stretch of the sock. Length to beginning of heel turn should be two inches shorter than total length of sock.
I make a basic woman’s sock (9 inch foot) 48-64 stitches around and 7-8” to the heel turn. I'm finding that a 64 stitch sock works better most of the time than 48 stitches. Use the smaller number with large yarn and larger needles (or for smaller feet.) If you are using sock yarn and size 0, 1, or 2 needles, use 64 stitches. [Over time, I've learned that the number of stitches around varies by the size of the needles and the yarn. I am using 72 to 96 stitches around these days. I am also experimenting with changing needle sizes to something larger about 3 inches after I turn the heel so there is more room in the calf. This is having varied success, but you can play with it.] I usually make the ankle section as long as the foot section. The amount of stitches cast on for the toe is a function of the number of stitches around. I cast on 8 st. for a 48 st. sock and 12 stitches for a 64 st. sock. [These days I start with no more than 1/2 the final stitch count around .]
Tools: Needles, Tape measure, Crochet hook of size to work with yarn, Small to Medium-sized stitch holders, Tapestry needles (for weaving in ends), Scrap yarn of contrasting color for Lifeline (opt.)
Toe-up Socks
Instructions are written for an 12 st. cast-on/ 64 stitch sock. Adapt as needed for the number of stitches you will have in the foot of your sock.
1. Cast on 12 stitches from first ball of yarn. Drop yarn. Cast on 12 stitches from 2nd ball.
2. Increase 1 in each stitch across for each sock.
3. Remove needle from each sock.
4. Reinsert needle into socks, putting every other stitch on 1st needle.
5. Using 2nd needle, put unclaimed stitches on needle. You now have 12 stitches of each sock on each needle.
6. Knit 12 stitches on first sock. Drop yarn. Pick up next yarn, knit 12 stitches on 2nd sock. Turn. Knit 12 stitches on 2nd sock. Drop yarn. Pick up first yarn. Knit 12 st. on first sock.
7. Increase 1 in first stitch of first sock. Knit to last stitch. Increase 1 in last stitch. 14 st. Drop yarn. Pick up 2nd yarn. Repeat for second sock. (14 st.) Repeat on 2nd needle for each sock. Total of 28 stitch on each sock at end of row.
8. Knit around for each sock.
9. Repeat 6 and 7 until 32 stitches on each side for each sock (total 64 stitches each sock).
10. Toe increases have been finished.
11. Knit around each sock until 2 inches from end of foot.
(NOTE: If you are making these socks for your own foot length, the "handy measure" is your own hand. The length from the heel of your hand to the tip of your longest finger is the length of your sock from toe to beginning of heel turn.)
12. Short row heel: Work across the two socks on the first needle as described in 13. Turn. Slip the remaining stitches of the first sock onto a stitch holder. Move to 2nd sock; place those stitches onto the 2nd stitch holder. You will only be working on the stitches from one needle, one sock as you turn the heel. Put each sock on a different circular needle after you have the front halves on stitch holders.
13. (Quoted from Toe-Up Techniques for Hand Knit Socks p. 18-19)
You are now working on only the heel stitches. Knit the stitches on needle #1 to the last 2 stitches, bring your yarn to the front of the work, slip one stitch from the left needle to the right needle. Return your yarn to the back of the work and slip the stitch back to the left needle. You didn’t knit the stitch, you just wrapped the yarn around it to eliminate holes. It’s slip the stitch to the right needle, wrap the yarn around the stitch, slip the stitch back to the left needle. You have two stitches that are not knit on needle #1 (the stitch you wrapped and the last stitch on the needle.)
Turn your work. You still have those two stitches unworked and now they are on the right needle that you will use to purl back across needle #1.
Purl back across needle # … until there are 2 stitches left… This time put the yarn to the back of the work, slip the next stitch onto your right hand needle, return the yarn to the front of the work, and slip the stitch back over to the left hand needle.
You now have four stitches not worked. The two you didn’t knit in row 1 and the two you didn’t purl in row 2.
Each time you knit or purl a row, you work one less stitch, slipping and wrapping that stitch, leaving it un-knit or un-purled until until you have only the center one third of the heel stitches [12 center stitches] that are actually knit and all the rest of the stitches on both sides of the center stitches have been slipped and wrapped (or put on hold).
14. (Quoted from Toe-Up Techniques for Hand Knit Socks p. 21)
Heel Increase Section: It’s the same process as you begin to re-knit or re-purl the slipped and wrapped stitches one by one on each row until you rework all the stitches from the heel section. Knit up to the closest slipped stitch, knit that stitch with the wrap together as one, slip and wrap the next stitch, turn the work. Purl back across to the closest slipped stitch, purl the stitch and wrap together as one, slip and wrap the next stitch, turn the work. As you re-work the stitches, you will again wrap the next stitch as you turn. So while returning the stitches into work, you will actually have two wraps per stitch.
You decrease down by not working the stitches and then increase back out by working into the stitches again one by one.
To hide the wraps when bringing the slipped stitches back up to work, you work the wrap and the stitch together.
15. After heel has been turned, continue in stockinette for about ¼ inch then pick up stitches from the stitch holders to get both socks back onto the circular needles.
16. Knit around each sock until within 1 inch of end. Switch to knit 2, purl 2 ribbing to finish sock.
17. Bind off loosely.
NOTE: Test sock for fit as you are making it. If ankle portion is snug, you may need to make the upper section (ribbing) larger to allow more stretch. Do this by changing to needles 2 sizes larger than the ones you have used for body of sock.
To adapt to for patterns: determine number of stitches needed for the pattern and calculate how that fits the number of stitches in your sock. If you want the pattern to cover the top of the foot, start pattern after toe increase and work it on the needle that carries the top of the sock. If you want the pattern to cover the ankle, start it after the toe increase when you return to knitting in the round.
Bibliography
Favorite socks, 25 timeless designs from Interweave, Ann Budd and Anne Merrow, editors, Loveland, Co.: Interweave Press, c2006.
Sensational knitted socks by Charlene Schurch, Woodinville, Wa. : Martingale & Company, c2005.
Socks a la carte: pick and choose patterns to knit socks your way by Jonnelle Paffino, Katherine Cade, and the SWTC Staff, Cincinnati, Ohio: North Light Books, c 2008. (First of a series of great sock pattern books. They have toe-up versions and two-at-a-time versions as well as standard sock patterns.)
Toe-up techniques for hand knit socks, by Janet Rehfeldt, (s.l.): Montat Publishing, c2003.
Vogue Knitting: the ultimate sock book: history, technique, design, by the editors of Vogue Knitting Magazine, New York : Sixth & Spring Books, c2007.
I have a new love -- socks! Nothing fits me as well as handmade socks. My feet aren't happy with store made socks anymore. I would have come to this awareness sooner but the first eight pairs of socks that I made were all given to my grandchildren and my husband. I didn't make a pair for myself until January. I hate to part with them long enough to wash them. However there are members of the household who do let me know when it's needed. 
I developed my own toe-up design because I couldn't figure out the patterns that I found. Now I'm brave enough to convert top down patterns to toe-up. Wow! Jo told me I could do this. (Jo and Carmen from KansasKnits are my mentors.)
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