Step 1: Importing Clips
First click "File" at the top left corner of your screen.
Mouse over the option "Import"
A side menu will appear, Select "Media" which will open up a File Browser
Select the files you wish to import on the File Browser
After a short loading time, The files will show up in the media tab on the left side of the screen.
Now you can click and drag those imported clips onto the Timeline tracks to begin editing.
The next step will explain the usage of the Timeline tracks.
Step 2: Video and Audio Tracks
Video Tracks hold Photos, Video and Text.
Audio clips hold Sound effects and music.
You can add an additional track to the Timeline by right clicking on an empty space on the timeline and selecting "Add video track"
Step 3: Special Effects
To add an effect, click the Effects tab on the left side of the screen to bring up the effects menu.
Look through the various types of effects and choose the one you want.
Click and drag the effect you want over the Video clip and it will bring up a menu to modify the ratios of the effect.
After tuning the effect to suit the situation, Close the effects modifier and the effect will be applied.
The next step will show how to "Mask" which is a very good feature of Sony Vegas