Precisely positioning the point at which the edit starts

Hello,
I need to know how to precisely position the point where I can start editing a file.
I can precisely position where the playback starts - just by moving the indicator with the right/left arrow keys. 
But how do I precisely position the insertion point (the point at which I want to start deleting something in the file)? Right now I am using the mouse to click on areas. 
What I need is to be able to move the insertion point minutely, as in maybe using CTRL arrow (which doesn't work). 
Can anybody help? 
Marc

Thank you. That was helpful. I hadn't thought of stetching the
wave out far enough - though now that I think about it and read your message, I should. Ahh, well this is how we learn.
Thanks for the help.
Marc

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