It's really up to what skills you want to level. If you want pure magic experience without gaining any hit point experience, then feel free to cast a grip load of Camelot teleports or if you are going to train smithing as well, then superheat some bars to sell so you at least have some inflow of cash. It really does just depend on what resources you have available at the moment. Stick with the above methods if you are training magic to just kick butt in wild.
Make sure to do all the quest available to you that can help increase your magic experience. I've noticed that MANY people overlook simple quests such as "Imp Catcher" and "Witch's Potion". I've also noticed that numerous guides teaching people how to train magic also overlook these two simple quests as completing them when you are at level one magic can get you to level nine or ten (1200exp)!
If you are looking to gain hit points as well and have a large supply of mind and air runes, I suggest casting loads upon loads of EARTH strikes, not FIRE strikes. Even though you get a little bit less experience, it is a lot more rune friendly on the Airs, which can save you a lot of time, essence, and/or money in the long run.
Happy casting and good luck on your road to HIGH ALCHING!
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