Recent Folder List appears to be static

I've looked around the forum for information, but could not fine a solution.
The Recent Folder List that is displayed below the Favorites does not appear to be updating for me after I go to other folders and open files in those folders. I have all the settings checked in the Options Dialog for this function. I also bumped up the quantities remembered from 10 to 15 and I still do not get any folders added to the list. I was also wondering if there is a way to clear the Recent List. I assume the list is handled in the "First-In First-Out" order when it comes to which folders are displayed in the list. Is this correct? I am operating on Windows XP x64 bit system.

Try turning off the Ignore filesystem folders that are only transited option to see if that helps.

A pre-made button that clears the recent list can be found under Settings -> Customize -> Commands. Type clear into the filter at the bottom of the Customize window to quickly find the Recent List Clear command.

Now that I have been shown how to get the commands for the "Recent" list, I see that there is a “Recently Visited Folders” list also. I now also realize that I have been looking at the "Smart Favorites". I am now going to investigate the “Smart Favorites” function to get some clarity on the subject. Thanks for setting me straight.