The wrist shot is probably the most effective shot in hockey. It is the most accurate shot and it can be released fairly quickly. This is the shot that a player should learn first.
While not as fast as the slap shot, with practice, proper technique and upper body strength, the wrist shot can be a very powerful shot.
Use the proper stick grip and take on the proper hockey stance. For the wrist shot, move your lower hand halfway down the shaft to add power to the shot. Position your body at a 45-degree angle to the net. Bring the puck behind or even with your back leg lowering your shoulder as you reach back and down with your stick to position the puck. Keep the puck in the middle of the blade with the blade tilted over the puck (rotate your wrists). In this position, your weight should be on your back leg.
Sweep the puck forward while transferring your weight toward your front foot and rotating your body forward. As the stick blade crosses your body, transfer body weight on your stick while pushing forward with your lower hand and pulling backward with your top hand. The puck is released when it reaches your front foot and your shoulders are square to the net. At the point of release, your wrists turn causing the stick blade to turn out and lift the puck. After the puck is released, follow through pointing the toe of your stick toward the target. The height of the shot depends on how much you rotate your wrists and how high your follow-through is.
The short wind up wrist shot is similar to the description above except that the puck is positioned between your back leg and front leg. Starting with your weight on your back leg, you step directly into the shot transferring body weight on your stick while pushing forward with your lower hand and pulling backward with your top hand. The short wind up has a quicker release and should be used when there is little time to prepare and power is not necessarily required.
For the wrist shot, advanced shooters will position the puck on the back third of the blade. When the shot is released, the puck rolls toward the toe of the blade causing a spin on the puck, which provides a faster and more accurate shot.