Pulled out the stop watch button on my daytona before it was prewound and the whole watch has ceased HELP

I don't know the solution to your problem (your could always send it to their nearest service center; see Rolex.com) but screwing out buttons is a feature that is often included to give maximum water resistance.

The Daytona's Construction

Most stainless steel watches are made of surgical 316L steel, which is very good. Rolex goes a step beyond this, using 904L steel, it is both super corrosion resistant and highly polishable, which is why a Rolex shines like no other. Its bracelet is very easy to size adjust, using screws instead of pins. It is actually made of 100 moving parts that conform to the wrist with smooth edges that never snag or pinch the skin. The bracelet also has the Easylink system which lets you make a further adjustment when your wrist expands due to exercise and high altitudes. Rolex watches were originally intended to be a working man's watch and its construction is shock resistant, antimagnetic and water resistant. It achieves water resistance through its triplock system winding crown.
You must first turn the watch crown counterclockwise until it releases from its seal. The watch crown will then pull out to let you either wind it or set the time. When complete, you must apply gentle pressure to it and turn it clockwise until it screws back into the case to protect it from dust and water. The Daytona caseback is hermetically sealed and only an authorized Rolex service person will be able to open it.

The Daytona's Movement
The movement of the Daytona has changed over the years, it currently uses a 4130 caliber in-house movement. It is made of 290 parts which is much less than other Swiss chronograph movements. Its smaller size is efficient and precise and lets it fit into to the relatively small 40mm case. Note the size difference between the Daytona and the Tag Heuer Aquaracer. The watch movement also contains a Parachrom hairspring. This device protects the movement from magnetic fields and protects it from shock. On the front dial are the words, "superlative chronometer officially tested." This means the watch has undergone two weeks of testing under extreme conditions to meet Swiss standards. This process is standard for every Rolex with chronometer function. Using the Chronograph

The chronograph function can be first and foremost used as a stop watch. To start, press down on the button above the crown. To stop, press the top button again, and to reset press the button below the crown. The chronograph can also be used as a large second hand if you synchronize it to begin with the small second hand at six o'clock of the dial. It can also be used to calculate speed, which is a little more complex. It utilizes the units per hour scale that is engraved in the bezel of the watch. For example, suppose you have taken 50 seconds to travel 1 mile. Looking at the dial you can then determine your speed to be 72 mph. Average speed times can also be determined using further calculations.

Any other questions I would contact ROLEX at their website. They even have downloads. Good luck.

http://www.rolex.com/en#/home/

Hello
These are the things you might need about the watch.

1. Turn the crown clockwise while it is in position 2 to manually wind the watch.It will stop if it has not been worn out or put in a watch winder for roughly two days.

2. Pull the crown out one notch to position 3 to change the time.Turn the crown clockwise to move the minute hand.

3. Push the crown back into the watch while turning it clockwise to return the crown to position 1.The crown should be tight to ensure the watch case is waterproof.

4. Operate the stopwatch and chronograph function by pressing the button located above the crown on the 3 o clock side of the watch.Stop the stopwatch by pressing the button again,Reset the stopwatch by pressing the button below the crown.
BEST OF LUCK

mcdevito75 here, Look for a small watch repair shop in your area, and have the watch serviced.

This may sound obvious but it needs to be repaired by a jeweler/watch repair shop. Although it is possible that the stop watch second hand is out of sync it would usually mean that the stop watch is starting at 3 seconds before 00:00 for 57 stop. If that's the case you should be able to readjust the start/stop position by pulling the crown out to 1st or 2nd position and then pressing the stop watch start stop buttons. One press, one position. Although I am not certain of the exact sequence.
However if you are unsure or it starts at the 00:00 position you need to find a jeweler you can trust to do the work. Check out a few places and ask to see the credentials of the watch repair person then compare and make an informed decision. Don't just use the jeweler at purchase point.
Most times, if it's a simple repair, like readjusting the hands a good jeweler will do it for nothing.

Good luck

If you bought it at a market it is a fake watch, made in Far East country.
People who can afford to buy Rolex watch will NEVER sell it at a market.
All you can do is to find your nearest watch repair shop and ask at least to restart it. Do not expect even average timekeeping. The function buttons probably will not work as well.
Sell it, if you can and never buy watch at a market again.

unscrew both buttons. hold the top one down, and then press the the bottom one.

ok. bear with me. lol. on most watches without a chronograph. the second is the largest hand on the watch and naturally that's what most people refer to as the second hand. On a chronograph the "true" second hand is the little middle dial. It should always be constantly moving and the large hand should only move when the stop watch funtion is in play. The way to employ the stopwatch funtion is by unscrewing both buttons. The top button starts the action. Once pressed then large hand will begin. The little dial on you left will keep up with each minute that passes. To stop the function, press the top button again. To reset the stop watch, press the bottom button. The little dial on your right is simply military time. Hope that helps. Good luck!!

this may help. unscrew both buttons. push in top button to start.again to stop.bottom is to reset. coincidently large sweep second hand is used for chrono and not the smaller register. the other registers are 24 hr military time and chrono minutes.

The advice given here is accurate to a degree. When wound, a rolex daytona IS running. However, it is the running seconds hand in the small sub-dial that is actually running. In the earlier Daytonas, this sub-dial was at the 9 o'clock position on the dial, (pre-2001 series daytonas). The later daytonas, from 2001 on, use the seconds at 6 position for counting seconds. The main sweeping second hand on the watch dial will NOT start until activated by the pusher at the 2 position. That pusher needs to be unscrewed and then pushed to start the large sweeping second hand. This action, in turn, starts the remaining 2 sub-dials in motion, counting minutes and hours. To stop the chronograph function, you push the pusher @ the 2 position again, to stop the sub-dial hands from counting, and then push the pusher @ the 4 position to re-set the dials to their "straight up position". This stops the chrono's function, until it is needed again, BUT the main running seconds, (at either the 9 or 6 sub-dial position, depending on the year series of the daytona) will continue to run, thus keeping accurate time.  Hope this gives you a better idea of how the timekeeping of the chronograph function on a Daytona works. So, to start your seconds running you need to start the chrono function by pressing the pusher at the 2 position. That will allow you to see the large sweeping second hand I think you're referring to here. Hope this has helped.
Doug