I always do this .. I have found
this as a very secure way than editing
registry keys ..
Click Start, Click Run, Type
GPEDIT.MSC, Press Enter
select User config (click on "+") select Administrative Templates, click on Desktop
In the window @ right side .. Find
Remove Recycle Bin Icon from Desktop
Double click on it, you can see a new window now ..
Select Enable option, Press OK.
Go to your desktop .. refresh it .. Recycle bin disappears ..
to retain your Recycle bin .. select Not configured instead of Enable in above steps ..
hope it helped ..