Hello everyone,
I’m sure glad I found this forum! I’ve been knitting since I was very small, but without anyone to teach me I basically made up my own ways to do most things. I’m now finally trying to learn the correct ways and terminology so that I can follow patterns and make more complex things. I’ve started by trying to make a simple lace shawl by Rowan:

http://www.knitrowan.com/designs-and-patterns/patterns/sunburst-shawl
The first line in its entirety is ‘*K1, (yfwd, sl 1, K1, psso) 3 times, yfwd, sl 1, K2tog, psso, (yfwd, K2tog) 3 times, yfwd, rep from * to last st, K1.’ I know how to do all the stitches involved, but putting them together is confusing me. I’ll break the sequence down with my questions - if anybody could clear them up, I’d be very grateful! This is my first try at lace.
1: K1, (yfwd, sl 1, K1, psso) 3 times
I am confused by two things here, and when I tried to search for a solution I found this video and became even more confused: https://www.youtube.com/watch?v=JRJzosGV8ac
Here the knitter returns the yfwd before the K1, so basically making a wrap rather than an additional stitch? Is this correct? Surely if so I will be decreasing quite dramatically here, and I don’t see any corresponding dramatic increases. I feel like I need to make the extra stitch, then pass the stitch which was originally slipped over. Which leads me to my second question - in the video the stitch is slipped purlwise. The instructions don’t specify (:knitting:), and I understand in that case that you should assume purlwise unless there is a decrease…but there is, so shouldn’t I be slipping it knitwise?
My other questions are basically the same thing, but just for clarity:
2: yfwd, sl 1, K2tog, psso
So here I am decreasing two stitches, with the K2tog and psso? But then am I also creating one with the yfwd, to decrease by just one stitch total? And again, which way should I be slipping the stitch?
3: yfwd, K2tog
So the stitches here are staying constant with an increase from the yfwd, or decreasing?
Thank you very much knitters, and apologies for the long post!