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 Craig Turner
Why did you become a futures & options broker?
I started my career in IT and Trading Systems with the NYSE and then Goldman Sachs. I spent most of my time in the equities world, but I actually love to follow the commodity markets. I was looking for a job in commodities, and there weren’t very many available in New York at the time. This was back in 2007 as the subprime crisis was unfolding. Wall Street had a hiring freeze. However, I was able to meet Andy Daniels that year, and the opportunity to become a futures & options broker was presented to me. In the fall of 2007, I moved to Chicago to work for Daniels Trading. I have a strong skillset for both analysis and client relations so it turned out to be a perfect fit for me.
What are your primary strengths as a broker?
I have strong analytics for both fundamental and technical analysis. Combine that with professional risk management skills and excellent communication, and it forms the foundation for being a great broker.
What is your trading/investing philosophy?
I focus on trading futures spreads based on fundamental, seasonal and technical analysis. Futures spreads fit my desire to hedge systemic risk while giving me a position that can make money if my thoughts on the markets are correct. It makes the trades a little more pure because you’re hedging out the US dollar. You can also play seasonals a lot better with futures spreads as compared to the outrights and the options.
What makes you unique in your broker philosophy?
I have written several blogs and conducted many webinars and presentations on futures spreads and hedging systemic risk. I think futures traders run into trouble because they see the potential gain at first, but they may not really understand all of the risks. When I have a good idea about a market, I always look to find the best way to take a position while minimizing the risk as much as possible. I always focus on the risk first. If more traders concentrated on the risk of a trade first, and then looked at the reward to see if it makes sense, I think there would be a lot more successful traders in the futures markets.
What are your favorite markets?
The grains are my favorite market. When you trade, research and analyze corn, soybeans and wheat, you get to know the livestock and energy markets very well, too.
What are your favorite types of trades or strategies?
My favorite types of trades are futures spreads trades. Instead of getting long or short a futures market, I like doing a bull spread or bear spread because, in my opinion, it gives you better risk management. I also like seasonal trading. When you combine seasonal trading with fundamentals and technicals, you get three different layers of analysis that you can fall back on.
What is your view on Fundamental and Technical Analysis?
Fundamentals are the leading driver to price discovery. Technical analysis gives the trader a view into how the market is reacting to the underlying fundamentals. Technical analysis is a great tool because it is impossible to know everything going on fundamentally. Any fundamental trader needs to understand the charts so they can see if the market agrees with their fundamental analysis. Technical traders may feel they don’t need to know the fundamentals, but since the ultimate leading indicator in technical analysis is the underlying fundamental data, they should at least be aware of major reports, seasonal tendencies, and other factors.
Beyond executing trades, how else do you help traders?
Education plays a large role in trading. A lot of value comes from education, whether you are a beginner in the futures markets or someone who is looking for advanced concepts in trading. Also, I believe communication is key for a good broker relationship. I let them know where their positions are or how much risk there is on the table. Basically, it is important to discuss what their interests are or what their risk profile is so I can guide them to what resources or education they could use. In short, I help new and experienced traders with research and reports, risk management, learning online technology, and finding the best trading style that fits their personality and risk profile.
What advice do you tell new clients?
There is nothing wrong with starting off slow! Do not get over excited and jump into any trade that comes your way. When people first open an account, they want to start trading immediately, and the first trading idea they come across, they want to go all in. They need to be more selective when they first start out. I know it is tempting to jump in hastily because they are excited to be in the markets. I’m here to just remind them and to be conscientious as they start trading.
What are your hobbies or what do you do on your leisure time?
I am married with three children, ages one, three and five. I don’t have any hobbies right now.
Who is your favorite sports team?
Liverpool FC! You Never Walk Alone! I’ve always been a big soccer fan; I played soccer and lacrosse growing up and even through college.
Do you prefer Chicago style or New York style pizza?
I grew up in Long Island, and lived in the city for years so I’m pretty biased. However, you can’t really compare the two because they’re not the same. Chicago style is more like “Pizza Casserole” while NY style is “Thin Slice”.
If your life was made into a movie, who would you want to play your character?
I need to find an actor in their mid to late 30s who is much better looking than I am and also in better physical shape. Bradley Cooper would be awesome, but Christian Bale would be a close 2nd.
Subscribe to Turner’s Take Newsletter & Podcast
Turner’s Take Newsletter & Podcast - Turner’s Take is a complimentary weekly market commentary newsletter that covers the Grain, Livestock and Energy futures spread markets using fundamental, technical and seasonal analysis.
Turner’s Take Newsletter & Podcast includes an email newsletter subscription.
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.