At Daniels Trading, we focus on building trusting relationships with our clients. We believe one of the best ways for you to establish trust with your broker is to learn more about him or her! In our “Get to Know Your Broker” series, we will provide you with insight into the lives of our brokers, from their backgrounds and career paths in trading to their personal favorites and hobbies.
Introducing Mark Hendershott
Why did you become a futures & options broker?
Growing up working for a farming operation in some capacity or another I knew from a young age that agriculture is where I wanted to be. Not everyone out there knows what it takes to produce a crop but over the years I not only learned about that but I developed a sense of appreciation for it. I have been in the pick-up with a spot light after a hail storm. I know the type of character it takes to make a living in this business and I like to surround myself with those in that space and help them to manage the risk and opportunity in the markets.
What are your favorite markets?
I specialize in the grain and livestock markets.
What are your favorite types of trades or strategies?
I primarily use futures and options strategies and try to work those in with my client’s position in the cash market. In certain market environments, a combination of spreads may also be appropriate.
What is your view on Fundamental and Technical Analysis?
I start by looking at the fundamentals of the market but use technical points to enter or exit trades. A more nuanced approach that I’ve learned over the years has to do with understanding money flow and how that might have the potential to affect price.
Beyond executing trades, how else do you help traders?
I would say 10% or less of my job is executing trades. I am a sounding board for ideas. I try to recognize when a guy gets deep in the woods and needs a “professional woodsman” to help take another look at the compass.
What advice do you tell new clients?
Have a plan, write it down, and stick with it. Like a my good friend and mentor Kevin Van Trump told me “stick to the scripted plays”.
What do you believe is the biggest myth within the trading industry?
That trading is easy! These markets are very challenging, even for the most seasoned traders. That’s why I make it my mission to help my ag clients to manage their risk first and foremost. If they want to share ideas and speculate on where the markets are going, we can do that too but it’s important to draw a line between hedging and speculating.
What is the key to being a good broker?
What do you like the most about your job?
Helping farmers to run a better operation. I mentioned above, working with farmers is enjoyable for me because they are the salt of the earth. Helping them to run their business and manage the opportunities in these markets makes coming to work every day rewarding. The Daniels Ag team is made up of some of the best guys I’ve ever met in the industry. I really believe that combination is a great fit for me.
Who is your favorite sports team?
I don’t have one so I’ll give you a few. Kansas State University, Kansas City Royals, and Kansas City Chiefs!!! I’m a good old boy from Kansas but these guys here in Chicago talk a lot about some game on ice with sticks and pucks.
Tell us a little about your background?
I was born and raised in North Central Kansas. I worked on farming operations since I was 12 years old. Surprisingly when I graduated college I was interested in becoming a Grain Merchandiser but fate led me in a different direction. I think back and feel blessed that I was given the opportunities that I was given.
Do you have any unique talents?
I can drink a gallon of milk in one hour or less.
Do you prefer Chicago style or New York style pizza?
Hands down best pizza in the World is Casey’s General Store… Kansas Style.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.