My java version on my phone is very old and therefore does not let my play alot of games and the ones I can are very basic... how do Install the latest version of java on my phone? Or if cant have that, whats the latest version I can?

Usually, updating java on your phone means that you need to flash your phone's ROM. For this you have two options:

1. Flashing it yourself. This is often "dangerous", because it can go wrong, in which case your phone might be screwed. Also, sometimes it requires special cables and software
2. Having a shop do it for you. This might cost something, but if you do this, try to do it where you bought your phone, for it may not break the warranty you have on the phone