Line a 8x8 pan with a piece of tin foil or saran wrap leaving the ends hanging over so that you can easily remove the fudge.
Heat the condensed milk, chocolate chips, butter, and vanilla in a double boiler or microwave. If you use the microwave heat in increments while stirring in between. Stir until the chocolate is melted and mixture is smooth. If you are opting for pecans or whatever nut of your choice stir in the mixture at this time.
Pour into your prepared pan. Spread gently and even out the chocolate. Chill until firm, approximately 2 hours. Lift out of the pan and cut into small squares.
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