I know that it is possible, because I have seen other posts with embedded videos. But whenever I copy the embed text from youtube into the edit post window, the text disappears when I save draft or try to preview.
I have gone as far as trying to copy the html code directly from a post with a video in it, but the end result was the same.
Can anyone help me?
EDIT: Thank you all for the help, it seems that I only need to copy the video link in text form to get the embed automagically. Personally, I think this is a bad solution – what if I DO want just the text link out there? Anyway. Now I know.