Here is what you can do it your sprain your ankle. Take a pain reliever and anti-inflammatory medication like Ibuprofen or Naproxen to help with the pain and swelling. Elevate your injured limb and ice your ankle and wrap it with an ACE bandage. You should stay off of your ankle the first day and merely keep it iced off and on, wrapped (to reduce swelling) and elevate.
Two to three days after the injury you should begin exercising the injured ankle. If your doctor tells you it is OK to go ahead and exercise your ankle, here is a good outline of what to do.
Ice and elevate your ankle for 10-15 minutes. Then:
TOE RAISES: Keeping your knee straight, pull your toes toward you. Hold for 10-15 seconds. Repeat 10 times.
HEEL RAISES: Keeping your knee straight, point your toes away from you. Hold 10-15 seconds.
ANKLE CIRCLES: Sit either in a chair or on the floor and move your ankle from side to side and up and down and around in circles. Perform 5 to 10 circles in each direction.
SITTING and STANDING HEEL RAISES: Sit in a chair with the injured foot on the ground. Slowly raise the heel of the injured foot while keeping the toes on the ground. Return the heel to the floor. Repeat 10 times.
BALANCING: Stand and place a chair next to your uninjured foot to balance you. Initially, stand on the inured foot for 30 seconds. Slowly increase this to up to three minutes at a time.
Optimally, your should do these exercises at least 2-3 times a day to improve your function, decrease the swelling and pain, and limit the stiffness in your injured ankle joint.