In my keyboard, is there a way to advance or backup the insertion point? Using the keyboard in Cyanogenmod, sometimes while typing in a sentence, I see a point where I would like to make an edit.  Presently, I do this by touching with my finger where I want the insertion point to be, however, it is hard to get the exact location, often I miss it by one or two characters.  In such cases, instead of trying again and again until I get it right (which is most difficult to position right at the beginning of the text) is there a way to advance the cursor forward of backwards by one position somehow?  In other words, on a computer, I would press the forward or backward arrow keys to move one position, is there something like that in the keyboard?
I don't know about the stock keyboard but in Swiftkey and Kii keyboard(a wonderful and free alternative to stock keyboard and Swiftkey) you and enable arrow keys, ie → ← ↑ ↓. I think this might be what you're looking for.