I watched the youtube video and think that's a pretty good technique. It's important to get the corners square. My quilts usually have several inches extra on each side.
There is something I do differently; don't know if anyone else does. Instead of cutting the edge, I use a black permanent marker to mark the edge. If I think I may get distortion or wrinkling, I zigzag beyond the marked line to stabilize all three layers to the right of the marked line. The binding is folded in half with raw edges aligned with the permanent marker line, and I use a walking foot to sew that on, mitering the corners as usual. I don't cut the quilt's edge until after the binding is sewn on. I think this method gives me more stable edges.