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What is opacity you ask? Well it's how
transparent you want the clip to be. This feature is only available on
tracks 2 and higher. You can find the opacity line by clicking on the
arrow next to the name of the track. This will show the opacity line.

As you can see, I have made an adjustment to the opacity
of the top clip. If I had left it at default the top clip would dominate
the bottom clip and you wouldn't see any of the bottom clip. But since I
have the opacity set to gradually decrease (making the line go from
bottom to top) then a fade effect is created and you can currently see
both tracks. To change the clips opacity simply click on the red line
anywhere and a new marker will be placed. This will allow you to make
gradual increases and decreases and other fun things without cutting up
the clip. Simply move the boxes to where on the timeline you want and
set how high you want it (top no transparency, bottom full transparency).
Once you are done you can close the opacity track and continue editing.
Note that when previewing you will not see the actual change in opacity
unless you render the video.

Rendering/previewing is one of the most useful
tools you can have. This allows you to render sections as you edit and
see what you have done before doing a lengthy export. You notice the
red/orange bar above the timeline? That is the preview marker.
Red/Orange means non-rendered and green means rendered.
To render footage simply hit enter while the timeline is
in focus. The rendering percentage box will appear telling you the
progress and you can also see the progress as the green line moves from
the start of the timeline to the end. You can cancel the render at any
time and you will not loose what has already been rendered. Once
rendered, you can then view the video as it would look once exported in
the preview pane. Click the play button or start from beginning button
and enjoy the fruits of your labor.

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