Perhaps if you showed us an example of the code you're typing at the command line, we'd have a better idea of what you're trying to do. Without that, the question is too vague to get any useful feedback.

Are you talking about being able to re-execute a previous command with the ability to edit a recalled command line before running it again? Some versions of the "MS-DOS Prompt" shell support this (more or less), but if you get a Win32 port of the unix "bash" shell, you'll find that its command-line history/editing features are much better (along with a lot of other features being much better as well).