Using text to speech

I love using the speech to text feature on my iPhone and iPad but there is one major problem. It is often difficult to make corrections. It is often difficult to get the cursor into the right spot. What I need are arrow keys and of course I can't find anything like that on the keyboard. Just wondered if there is a hidden trick for this, or if anyone has another suggestion.

Have you tried just tapping the word that you would like to correct?

Speech to text

Yes I do try to click on the word and sometimes I can hit the right spot, but often the cursor goes above one line or below. The screen does not usually allow me to easily move the cursor. With a regular keyboard the up and down, right and left keys are very useful to do this, but there is nothing on the iOS system that I can see. Right now the best result is to press on the space where ever it is, and move to selection where I want it to be. This is a very clumsy method to make corrections.