Posting a video what goes between the two video words

When you click on video right above the reply, in order to post a video. What do you put in between the two video words? [video]? Does a link go there? I want to put a video part of some live 07 games that i'm doing a dynasty story for.

a youtube link

phpBB [video]

Code:

[video]http://www.youtube.com/watch?v=UBVhy9Xf_m4[/video]

Thanks.