Follow the steps below after finding the YouTube video you want to embed.

Step 1
Click the "<Embed>" button as highlighted (#1).
Select the settings you want eg. Size/ Colour/ Play in HD/ Include related videos/ Show Border/ Privacy Mode.

Step 2
Copy the Embed Code as highlighted (#2).


Step 3
Paste the code you have just copied.
Now extract the link which has been highlighted in the example.

_{Locating "<embed src=" is the easiest way to find.}

Step 4
Use the following code
Paste in the link.

Should look like this.

[embed style="width: 512px; height: 308px"]http://www.youtube.com/v/-o7rES_3ymA&hl=en_US&fs=1&color1=0xe1600f&color2=0xfebd01&hd=1[/embed]

If you have done it correctly you should be seeing this in the preview.