11/12/2020
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`Demo Account
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`http://www.mgforex.com/demo/default.asp?loc=DemoFaq
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`9 captures
`18 Dec 2000 - 8 Jun 2003
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`Go NOV DEC DEC
`18
`1999 2000 2002
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`👤 ⍰ ❎
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`f 🐦
`▾ About this capture
`
` ABOUT | DEMO | LIVE | TRADING INFO |
` SERVICES | RESOURCES | HELP
`DEMO Frequently Asked questions
`
` LIVE Account
`Login DEMO
`Account Login
`Request Free
`Demo -
`Open a Live
`Account -
`
`Overview -
`Educational Tool -
`Demo Contest -
`Demo Contest
`Details-
`Demo Contest
`Prizes -
`Demo Contest
`Disclaimer -
`Open Contest Acct
`-
`Demo User Guide
`-
`DealStation
`Preview -
`Demo FAQ -
`
`1.What kind of System Configuration do you recommend?
`
`The new trading platform has been designed to work with the
`standard PC available at most computer stores. We recommend
`64 MB RAM, 350 Mhz and any processor such as the Celeron or
`Pentium III and a 56k modem. Systems that do not meet these
`requirements may encounter varying degrees of connection
`failures and lag time.
`
`2. When may I access Deal Station 2000 for trading?
`
`Trading is available from Sunday 7pm through Friday 3pm NY
`time.
`
`3. What should I do if prices on my screen do not update?
`
`Check your connection to the Internet.
`
`4. When are the Interest rates applied?
`
`The interest rates are applied at 3 p.m. NY time.
`
`5. To win the Demo contest, do I have to outperform my
`opponents or make at least 50% ($5,000) profit on my Contest-
`Demo Account?
`
`You have to do both, make at least a 50% profit and show the
`best performance in the demo-competition in order to win. In the
`past, people have shown up to 300% monthly returns.
`
`6. What should I do if I lost my demo account balance before the
`month is over?
`
`You may send a request to readjust your demo account to
`demo@forex-mg.com at any time.
`
`7. Am I allowed to participate in the Demo Trading Contest in I
`already have a Live Trading Account with MGFG?
`
`Yes, Live Trading Account holders can participate. The prize won
`in the competition would be deposited into a separate Trading
`
`https://web.archive.org/web/20001218073000/http://www.mgforex.com/demo/default.asp?loc=DemoFaq
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`OANDA – EXHIBIT 2004
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`11/12/2020
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`Demo Account
`Account. Click here for Demo Trading Contest Details.
`👤 ⍰ ❎
`Go NOV DEC DEC
`http://www.mgforex.com/demo/default.asp?loc=DemoFaq
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`8. Can I place stop and limit orders on the same ticket as the
`1999 2000 2002
`▾ About this capture
`open trade?
`
`9 captures
`18 Dec 2000 - 8 Jun 2003
`
`No, all orders are no longer linked to any particular open position
`held with the Deal Desk. All open orders are GTC (Good Till
`Cancelled) and the Deal Desk will execute these orders once
`triggered. OCO orders (One Cancels Other) are an exception in
`that if one side of the order is filled, the other side will be
`cancelled.
`
`9. What is the difference between Demo and Live Trading?
`
`Your dealer in the demo account is an automated machine; you
`may only open a market order at the market rate, sometimes
`making it difficult to enter the market because of rapid rate
`changes. In the real account however, you are trading with
`professional dealers. When you submit a market order, the dealer
`will sometimes open it even though the market has moved a few
`points away from your requested rate. Thus, even if you submit
`an order at a rate different from the current market rate, your
`order may still be opened. This flexibility is not available in demo
`trading: if a market order is submitted where the requested rate
`is different from the current market rate, the order will not be
`opened, and you will be informed of the price change by a
`message box. Although in real trading you may submit a market
`order at any price, the dealer might reject your order, because of
`a large difference between the market rate and your requested
`rate.
`
`10. Will a Stop-Loss order be filled at the exact exchange rate at
`which the order is placed?
`
`Absolutely, not. There are two good reasons for this answer. Not
`every price is hit (available for trading) during a move up or
`down. For example, for $/yen exchange rate often will jump 15 or
`20 pips in reaction to a piece of news coming across the wires or
`an influx of orders. Those who have orders located between the
`old price and the new price (that is 15 or 20 pips higher) will not
`have there orders filled at the rate that the orders were entered.
`Thus, when the exchange rate jumps through the Stop-Loss level,
`the order will be filled at a rate, which is less favorable to the
`person closing the position than the rate of the Stop-Loss order.
`The second reason has to do with the handling of stop-loss orders
`by MG’s dealing desk. The dealing desk wants to provide the
`client with an opportunity to comeback from a losing position. If a
`position is closed, the client will not be able to benefit from a
`change in the direction or rates. The dealing desk waits for the
`exchange rate to break through the Stop-Loss level before closing
`the position.
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`11/12/2020
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`9 captures
`18 Dec 2000 - 8 Jun 2003
`
`Demo Account
`11. Why is it that if I have a losing position based on one
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`Go NOV DEC DEC
`http://www.mgforex.com/demo/default.asp?loc=DemoFaq
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`currency and a winning position based on the same currency, I
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`cannot always close out only my losing position?
`1999 2000 2002
`▾ About this capture
`FIFO (First In First Out) – This policy, which follows stricter
`accounting principles, states that the first position one opens in a
`particular currency pair is the first position that must be closed
`when one liquidates. This rule was instituted in the broader
`market because all traders have a tendency to close out
`profitable positions yet are reluctant to realize and accept poor
`decisions. Losing positions are left to sit in the hopes that a huge
`market swing will somehow rescue them from the market.
`Although human nature makes it difficult to realize a loss,
`common sense dictates that this practice is contrary to sound
`trading techniques. The following axiom has stood the test of
`time, “Let profits ride and cut losses short.” Losing positions held
`indefinitely will produce nothing more than added loss, with
`interest charges eventually resulting in a margin call. FIFO is a
`trading standard that will bring MG’s clients closer in line with
`interbank market procedures.
`
`12. Why do all of the units I’m trading of a particular currency get
`closed when I only want to close one unit at a time?
`
`When you click on the close price of a particular currency you are
`trading, the system will default to close the total number of units
`in your open trades box for that currency. If you do not wish to
`liquidate all of your open positions, simply click on the carrot next
`to the number of units and adjust it to the number of units you
`wish to close. It is not mandatory to close all of your positions if
`this contradicts your trading strategy.
`
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` ABOUT | DEMO | LIVE | TRADING INFO |
` SERVICES | RESOURCES | HELP
` Copyright © 2000 MG Financial Group. All rights reserved.
`
`https://web.archive.org/web/20001218073000/http://www.mgforex.com/demo/default.asp?loc=DemoFaq
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