Purchase or rent a wire locator. These machines come in a number of varieties and prices. If you only plan to use the machine once, ask about renting one at your local hardware store. These machines function by sending an electrical current through the wire and showing you its exact location on your property.
Force the grounding plate attached to the wire locator far down into the earth. This will prevent electrocution and ensure that the locator works properly. At this point, you should also put on your insulated gloves.
Attach the clamp to the wire you want to trace. The clamp is part of the wire locator and is usually colored red. Be careful to avoid touching the wire or the clamp directly. If you are attaching the clamp to an active wire, it's important to only attach it when you are ready to trace the wire, because active wires can drain the locator's batteries quickly.
Turn on the receiver on the locator. The locator will begin to send a signal along the wire. Stand up while holding the receiver, and begin to walk in circles around the area where you believe the wire to be buried.
Put a marker down when your receiver indicates that it has found the signal. Your marker can be anything that is small and easy to identify.
Continue to walk in circles as you trace the wire and put down markers every few feet. This will show you the exact path of the wire underground. If you lose the signal, back up to where you last had a good signal, and try a different direction.