It's simple, just use clean url like this: http://www.youtube.com/watch?v=GslzWvQRiJg << v= followed by a video id is the only part you need.
Then post it inside [yt] [/yt] tags like this (shortcut: press the [yt] button):
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[yt]http://www.youtube.com/watch?v=GslzWvQRiJg[/yt]
Old way of embedding used video id only inside [youtube] [/youtube] tags, like:
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[youtube]GslzWvQRiJg[/youtube]
Both ways are valid, [yt] tags are more robust and can extract video id from any YouTube url as long as there is 'v=' present.