How do you create a fade effect in a Pro Tools session?

To create a fade effect in a Pro Tools session, navigating to the Edit menu and selecting Fade after highlighting the clip is the correct method. This process allows you to open the Fade dialog box, where you can adjust the parameters of the fade, such as the type (e.g., linear or exponential) and the duration. This precise control over fade parameters is essential for achieving desired effects, whether it's for a smooth transition out of a clip or to create a build-up into a sound.

Using the Edit menu for fades is a standard procedure in audio editing, as it directly addresses the needs of manipulating clips for audio production purposes. The other options do not provide the necessary steps or functionality to effectively create or customize a fade in the same way.