I have10 video clips which i have already edited in timeline view. The timeline has become immensely complex. What i want is, to select any random fragment of my clip 1 in the timeline and apply an effect and WANT THAT EFFECT TO BE APPLIED ACROSS TO ALL THE FRAGMENTS OF CLIP1 PRESENT IN MY FINAL EDIT. how to do this?

Right click in your clip with the effects, and then copy... Hold shift and make a box selection to all the fragments and then past effects

Perhaps this helpes you? It is possible to put effects on a whole track or even the whole project (say, the master track).

You can also apply effects directly in the project bin

Arkengheist wrote:You can also apply effects directly in the project bin

Just drag and drop the effect to the clip in the bin. So this tip of Arkengheist does exactly what you want but you must keep in mind that if you have other sections of the same clip in the timeline where you don't want to apply that effect you need to extract the clip you want the effect to be applied to from the timeline to the project bin.