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Use the shield Stone Parma which has Weapon Art (WA) is Weapon Skill. Equip the shield to your left hand and the Parrying Dagger to your right hand. At the result, when you perfrom WA, it will be a Parry.
If you forgot to use WA for the incoming attack, you might be safe because it blocks 100% damage. Hornet Ring is effective.
This style i recommend for players who are learning how to parry and players who want to fool other players.
I'll actually try that, as I need to get good at parrying, as I've avoided it for so long.
You can use any shield that has WA+100% physical damage resistance for this, right? Why Stone Parma?
This needs a faster startup. It always had, and now it starts at the same time as *****ing medium shields?
This thing, now, is so bad...
To clear up some of the confusion about the parrying dagger, here is a spreadsheet of parry frame for each item.
As you can see, the parrying dagger is best used when parrying attack early.
http://i.imgur.com/42TLqRi.png
"As you can see, the parrying dagger is best used when parrying attack early."

Sooo...the parry frames are the red boxes?
I believe they mean it's the best tool to use if you initiate the parry early, as the active parry frames (in blue) come later in the animation, and last for longer than the other tools that have active frames beginning at that time.

So if you initiated a parry, but the opponents attack didn't connect until frame 21, any other tool would have resulted in a failed/partial parry, whereas for the parry dagger, frame 21 is still an active parry frame, and would result in a successful parry.
I parry better with this than I do with a small shield.
Is this a good choice for left hand when using farron UG
Why bother when the Farron UG already comes with a parrying dagger in 2 handed mode?
The parrying dagger has much longer frames than the farron dagger
Only really useful in the right-handed slot, otherwise the frames are too*****.
Are the extended parry frames the same even if I don't meet stat requirements?
I miss parrying with barehands
This weapon can become the lowest damaging malee weapon in the game at +0, while broken, unusable, and refined. Thought I'd throw this out here. 1 DAMAGE PER HIT META
el oh el
Can I use it as parry tool, if I don't meet stat requirements?
yep you can
Hmm... guess, you're not. I took a shield with skill "spell parry" once. I didn't meet requirements for 1H and made a parry action. So there wasn't a flash like it when you use "Twisted Wall of Light". So I think you must meet requirements for some items to make them work properly.