No no no no no no no! The crocheknit thingy isn't for crocheting in the round - it's for crocheting a double-sided flat piece.
To crochet in the round, you make your foundation chain, and then, making sure your chain isn't twisted, start crocheting into the end of the chain to make a circle. It's VERY easy - easier than getting started knitting in the round!
So basically, instead of turning your work & working backwards down the chain, you grab the end of the chain instead, and work your way around.
Am I making sense?