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I don't know why it is I use to be able to put up pretty much all of my ram but now the launcher only allows 1 GB so I can't even run FTB. This happened after I updated to launcher version
You need the 64bit version of java to be able to allocate more than 1GB to java.
You will need to get the offline 64bit version of java as your browser is more than likely 32bit and will direct you to download that instead. Be sure to uninstall the 32bit version. http://www.java.com/en/download/manual.jsp