This exercise is great for balance and stability and advances a single single leg balance. It is great for working the stabilisers not only around your ankle but around your hip as well
Demonstration and Instructions
Stand balancing on one foot. Make sure your hips stay level. With your non-weight bearing foot touch the floor out in front, behind, to the side and then the other side by bringing the leg round behind you. Remember your foot should touch but you should not put weight through the foot. Come back to the center between each touch and level your hip bones. Progress this by making the movement more exaggerated by bending the weight bearing knee each time you reach and touch the other foot. Make sure you watch the tracking of your knee and your hips stay level as you do this.