Navigating text using keyboard instead of mouse when writing larger text documents or coding is an extremely simple way of increasing the amount of work you can get done. Here are the two shortcuts you must know (see all available text shortcuts for OS X and Windows).
http://www.youtube.com/watch?v=wIWME8bTp3U
Move one word left or right: Alt + Arrow Left/Right
Select one word left or right: Alt + Arrow Left/Right + Shift