I will rewrite that part when I get some time because it looks like it isn't that clear what you should do
Sorry about that.
For now, here is a more detailed version:
Select edge 1 and hit Ring. Now Connect them with 2 segments and move them close to the margins. One loop to the top and the other to the bottom.
Select edge 2 and hit Ring again. Repeat the step from above: connect with 2 segments and move them close to the margins, one to the right and one to the left.
Hope it helps this time