I just went for it using a .15 powered plane. I too learned to hold my palm up. Through discussion on various forums it seems that this is a bad habbit to get into...and a hard one to break.
I did not know about lazy eights at the time. I would suggest as others, learn lazy eight, no palm up, whatever size plane you have...small planes are harder to break, large planes fly slower...your choice.
And DO learn over grass, not asphalt!!
George