Save only valid SQL statements: View|Toad Options|Editor|Execute/Compile window, select the Save Only Statements that are Valid check box.
Name SQL statements:
Highlight the statement.
Select the Editor|Add to Named SQLs menu item.
Type a name for this SQL statement, one that you can easily recall at a later time.
Named SQL is case sensitive: you can store both "sql1" and "SQL1".
Drag SQL from the SQL window into the Editor and drop it where you want it.
Right-click over SQL in the SQL Recall window and select Edit to change it.
Use Toad Options|Editor|Code Assist|SQL Recall - Statements to save to limit the number of SQL statements Toad stores.