The two grips you want to get use to the most is an outside thumb wrap grip and ring finger grip. The reason being is that your thumb will be doing the most movement in passing and wrapping an your ring finger is both further away than your middle for fast wraps, like out of under the leg tricks and stronger and locks better than your pinky for consistency and comfort.
Most flow artists tend to have the ring looped around the middle finger. But I agree with ThelemicPotter in that you should get rid of the loop ring and get used to a continuous loop now if you ever want to do advanced tricks and passes.
If you are just starting, having the string fall between your middle and ring finger is usually the easiest way to start. Although I suspect by now you have gone past that point. This point is for newcomers visiting this thread.
I highly recommend getting used to long string wands sooner rather than later. I really hope to see double and quadruple linked flow wands enter the flow artists realm. Sadly magicians are getting lazy these days and not progressing the dancing cane further than they could.
Back to grips:
Thumb grip - looped over thumb.
Index, middle, and ring grips should be obvious.
Open grip - loop kept open by your thumb and ring (or middle) largest consistent opening for passes.
Out-wrap thumb grip - wrapped around and ending over the thumb.
In-wrap middle grip - wrapped and ending over the middle finger.
'viper' between the hook of the thumb and ring. Usually mid wrap or over the head tricks.
Wrist or palm wraps - usually when the wand is wrapped around the body and the other hand is used to do a quick trick and send it back.
horizontal levi - looped over opposite thumb to levitate from center.
end levi *fav* - an out-wrap thumb grip with middle finger on tip to allow the levistick to levitate horizontally (actually anything but vertical) thumb above the wand/cane.
center levi - looped around both hands to allow the wand/cane to float in the center and the you can use the outer strand to 'kick' and play with the wand.
There are about 20 more, but I feel that ppl change those so much that there isn't a standard in the magic, flow arts, or performance dance world to warrant the time to post them here. Maybe if someone wishes to write a instruction book or create a DVD video encyclopedia of flow wand move. I will share what I know there.
Hope this helps out new flow wand, dancing cane, floating baton, levi-stick, and similar artists starting up out there.
