Is there any setting available in Toad which will highlight some words in my SQL like DROP,TRUNCATE etc? It will be even better if it pops-up with "Yes"-"No" warning box while execution if it finds "DROP","TRUNCATE" in my sql query.
If you're running Professional Edition or above, then you might be able to define a Code Analysis rule/s using an XPATH expression to look for your desired keywords. If successful, the rule will cause instances of these key words to be highlighted in Toad's Editor (among other code anomalies that might get highlighted). Code Analysis exists in Pro edition or above. It's a hack, and not exactly what the Code Analysis engine was designed to do, but might work for your needs.