Good video making app?

I would like to start making a YouTube channel with good looking videos. I will need to pause, add different audio, pause,and most importantly, edit scenes and add text and music at the end. I am on iPad 2. I do not have a computer an I only want to use the iPad for making the videos. I do not care if the app costs money. Would iMovie work?? Right now I'm using video FX Live. It has good effects, but not a good editing system. If I get two apps, one for recording and one for editing, that would work too!

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