I have a 1996 F350 with a 7.3 Powerstroke. I had to replace the master cylinder due to the poor design of the connection between the master cylinder and pedal (almost more the pin in half). Now I need to bleed the system, I have no pedal pressure at all and I have pumped it by hand more than hundred times. Please tell me the correct step by step procedure to bleed this system.

 

I would try gravity bleeding it. Loosen the bleeder screw on the slave cylinder, fill the master cylinder with brake fluid, leave the top off the master cylinder so as not to create a vacuum lock, and hopefully the fluid will start flowing, give it some time. Let several ounces of fluid flow through to get all the air out. Don't let the master cylinder run dry, keep adding fluid. Hope this works for you.

 

There are no secrets. They a a pain in the back side to get bled. When replacing slave it is recommended you buy pre-bled units.
I had a heck of a time with my 95 F150 4x4. We bled it for awhile get pissed & leave it a day or so. Finely one day it decided it would work. I know this sounds crazy buy true.

 

Bench bleed the master first, then gravity bleed the slave, followed by pedal bleeding.