How to apply fade out

I read that some people are having problems figuring out how to apply fade out.
Also I din't know how to, but I just found out, so I hope this is helpful.
You can simply bounce down the tracks to a new track, be it midi or audio. This will create an audio file, and as soon as this audio file is provided, you can use the fading tool that appears when you hold the mouse curser on the upper right corner of the track. 
 
Go to "Edit" and select "Bounce to tracks" and "new track" (I think). When the bouncing has finished, you can delete the original tracks if you don't want to work on them any further.
 
Cheers
 
Thomas

I'm not sure that I get your point. Of course the file is partly closed after bouncing.
Anyway I have a couple of questions. Must you create the envelope manually by lowering the volume while the music is playing? Will the envelope (fade out) remain after you've exported the file to mp3, wave etc.? Please bear with me - I'm all new to this  
 

Yes to the envelopes. You can apply them to the individual tracks or to the master bus.

When you bounce the audio out... select ALL the tracks in the project.... double click a few times and it cycles through. Click export audio and in the PRESET box select WHAT YOU HEAR, and all the FX and envelopes are applied to the exported file.