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“Slip 1” is just that - slipping the stitch from the left needle to the right needle (or right to the left, if you’re knitting Lefty), without doing anything else to it. Maybe you’ll do something to it later… (read on for one possible exciting conclusion…)
“PSSO” is the abbreviation for Pass Slipped Stitch Over (‘the next knitted stitch’ implied) - You’ve ‘done something’ to the aforementioned ‘Slip 1’ stitch.
You can do other stuff with the ‘Slip 1’ stitch… if you sort of ignore it and keep on knitting the rest of the row - then turn and eventually purl it like the rest of the stitches in the row - it makes an interesting long stitch that, if you continue in that fashion, every other row, makes a nice ridge down the length of your fabric.
Didn’t think knitting was all that dramatic, didya?
Legitimately what is the difference between slip 1 and psso?
Knitting friends, help me.