Draw a selection shape using a serie of points. Click the first point, then each successive points, and finish by double-clicking the last point of your shape.
Replace Selection: Replace the current selection with a new selection.
Add to Selection: Add the new selection to the current selection (or press Shift).
Subtract from Selection: Subtract the new selection from the current selection (or press Alt).
Intersect with Selection: Intersect the new selection with the current selection (or press Shift+Alt). This will keep the common areas between the two selections.
Time Fade: Fading time at the borders of the new selection. Frequency Fade: Fading frequencies at the borders of the new selection.