How to use PROXIES in Premiere Pro CC for Smooth video editing

UPDATE: try using the GoPro Cineform preset instead of the one I select in this video (see the pinned comment for more details). ------------------------------ One of the best ways to speed up your workflow and work with large resolution files (i.e. 4K) in Premiere Pro CC is by using proxy files. Proxy files are a substitute for using the high resolution files whilst editing, which means the high res footage is converted into low res footage, which also means that less processing power ls needed to playba