A Bead is a simple shape that can be turned on the lathe. They can range in size from small and narrow, to large, wide shapes.
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A Bead should be turned using a spindle gouge. The size of the spindle gouge should depend on the size of the bead to be turned. (Use larger gouge for larger beads)
A bead is turned using a simple rolling action with the gouge starting at the top of the bead on its flat before being rotated 90 degrees down to one side to cut the circular shape:

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Below is a short video on how to turn a simple bead on the lathe: