{"id":1135,"date":"2025-10-08T10:49:54","date_gmt":"2025-10-08T10:49:54","guid":{"rendered":"https:\/\/blog.ngocha.biz\/?p=1135"},"modified":"2026-05-27T18:22:48","modified_gmt":"2026-05-27T18:22:48","slug":"giao-dich-theo-thuat-toan","status":"publish","type":"post","link":"https:\/\/blog.ngocha.biz\/?p=1135","title":{"rendered":"Giao d\u1ecbch theo thu\u1eadt to\u00e1n"},"content":{"rendered":"<p>C\u1ea3n tr\u1edf l\u1edbn nh\u1ea5t \u0111\u1ed1i v\u1edbi n\u0111t ch\u00ednh l\u00e0 ki\u1ec3m so\u00e1t c\u1ea3m x\u00fac c\u1ee7a b\u1ea3n th\u00e2n. Khi c\u1ea3m x\u00fac n\u0111t \u0111i v\u1ec1 h\u01b0\u1edbng c\u1ef1c \u0111oan tham lam v\u00e0 s\u1ee3 h\u00e3i h\u1ecd th\u01b0\u1eddng h\u00e0nh \u0111\u1ed9ng kh\u00f4ng suy ngh\u0129. Gi\u1ea3 s\u1eed b\u1ea1n c\u00f3 th\u1ec3 lo\u1ea1i b\u1ecf y\u1ebfu t\u1ed1 c\u1ea3m x\u00fac trong \u0111\u1ea7u t\u01b0 m\u00e0 ch\u1ec9 th\u1ef1c hi\u1ec7n theo m\u1ed9t h\u1ec7 th\u1ed1ng giao d\u1ecbch \u0111\u00e3 \u0111\u1eb7t ra nh\u01b0 l\u1ef1a ch\u1ecdn cp n\u00e0o, mua gi\u00e1 bao nhi\u00eau, mua th\u1ebf n\u00e0o, b\u00e1n ch\u1ed1t l\u1eddi hay b\u00e1n d\u1eebng l\u1ed7 gi\u00e1 bao nhi\u00eau. T\u1eeb \u0111\u00f3 sinh ra m\u1ed9t ki\u1ec3u giao d\u1ecbch l\u00e0 giao d\u1ecbch theo thu\u1eadt to\u00e1n.<\/p>\n<p>M\u1ee5c \u0111\u00edch c\u1ee7a b\u00e0i n\u00e0y l\u00e0 \u0111\u1ec3 ta hi\u1ec3u h\u00e0nh vi c\u1ee7a m\u1ed9t lo\u1ea1i \u0111\u1ed1i t\u01b0\u1ee3ng tr\u00ean th\u1ecb tr\u01b0\u1eddng n\u01a1i h\u1ecd d\u00f9ng thu\u1eadt to\u00e1n \u0111\u1ec3 giao d\u1ecbch; m\u1eb7t kh\u00e1c ta c\u0169ng hi\u1ec3u c\u00e1ch m\u00e0 thu\u1eadt to\u00e1n \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng \u0111\u1ec3 \u00e1p d\u1ee5ng cho h\u00ecnh th\u00e0nh n\u00ean giao d\u1ecbch c\u1ee7a m\u00ecnh. M\u00e1y t\u00ednh s\u1ebd gi\u00fap cho vi\u1ec7c ph\u00e2n t\u00edch d\u01b0 li\u1ec7u nhanh h\u01a1n, \u0111\u1eb7t l\u1ec7nh nhanh h\u01a1n nh\u01b0ng tr\u00e1i tim c\u1ee7a n\u00f3 v\u1eabn l\u00e0 ph\u01b0\u01a1ng tr\u00ecnh d\u1eabn t\u1edbi th\u1eafng l\u1ee3i; ph\u01b0\u01a1ng tr\u00ecnh sai th\u00ec h\u1eadu qu\u1ea3 s\u1ebd \u0111\u1ec3 r\u1ea5t nhanh do giao d\u1ecbch s\u1ed1 l\u01b0\u1ee3ng l\u1edbn. N\u1ebfu ta hi\u1ec3u ph\u01b0\u01a1ng tr\u00ecnh ta c\u0169ng c\u00f3 th\u1ec3 \u1ee9ng d\u1ee5ng n\u00f3 v\u1edbi \u0111\u1eb7t l\u1ec7nh th\u1ee7 c\u00f4ng.<\/p>\n<p>Trong b\u00e0i to\u00e1n x\u00e1c su\u1ea5t, s\u1ed1 th\u1eed c\u00e0ng l\u1edbn th\u00ec s\u1ed1 th\u1ef1c t\u1ebf s\u1ebd c\u00e0ng v\u1ec1 s\u00e1t v\u1edbi k\u1ef3 v\u1ecdng. V\u00ed d\u1ee5 khi tung \u0111\u1ed3ng xu, k\u1ef3 v\u1ecdng ng\u1eeda v\u00e0 s\u1ea5p \u0111\u1ec1u l\u00e0 50%. N\u1ebfu tung 10 l\u1ea7n s\u1ed1 th\u1ef1c t\u1ebf s\u1ebd kh\u00f4ng \u0111\u00fang 50% nh\u01b0ng n\u1ebfu tung 1 tri\u1ec7u l\u1ea7n s\u1ed1 th\u1ef1c t\u1ebf s\u1ebd ti\u1ec7m c\u1eadn 50%. Khi tung m\u1ed9t x\u00fac s\u1eafc s\u00e1u m\u1eb7t s\u1ed1 trung b\u00ecnh ta nh\u1eadn \u0111\u01b0\u1ee3c l\u00e0 ( 1+2+3+4+5+6)\/6=21\/6 = 3,5. C\u00e0ng t\u0103ng nhi\u1ec1u l\u00e2n tung th\u00ec con s\u1ed1 trung b\u00ecnh s\u1ebd c\u00e0ng ti\u1ebfn s\u00e1t d\u1ea7n v\u1ec1 3,5. <\/p>\n<p>Gi\u1ea3 \u0111\u1ecbnh ti\u00eau ch\u00ed l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu c\u1ee7a b\u1ea1n c\u00f3 x\u00e1c su\u1ea5t \u0111\u00fang 70%. N\u1ebfu b\u1ea1n th\u1eed 10 l\u1ea7n, x\u00e1c su\u1ea5t n\u00e0y s\u1ebd th\u1ea5p ho\u1eb7c cao h\u01a1n con s\u1ed1 70% nh\u01b0ng n\u1ebfu th\u1eed 1000 l\u1ea7n, x\u00e1c su\u1ea5t th\u1ef1c t\u1ebf s\u1ebd v\u1ec1 g\u1ea7n m\u1ee9c k\u1ef3 v\u1ecdng 70%. S\u1eed d\u1ee5ng giao d\u1ecbch thu\u1eadt to\u00e1n c\u00f3 ngh\u0129a l\u00e0 b\u1ea1n th\u1ef1c hi\u1ec7n r\u1ea5t nhi\u1ec1u l\u1ec7nh trong m\u1ed9t kho\u1ea3ng th\u1eddi gian, c\u0169ng c\u00f3 ngh\u0129a l\u00e0 x\u00e1c su\u1ea5t th\u00e0nh c\u00f4ng s\u1ebd ti\u1ebfn d\u1ea7n t\u1edbi 70%; c\u0169ng c\u00f3 ngh\u0129a r\u1eb1ng c\u1ee9 10 l\u1ea7n \u0111\u1eb7t s\u1ebd c\u00f3 7 l\u1ea7n th\u1eafng.<\/p>\n<p> Gi\u1ea3 \u0111\u1ecbnh gi\u00e1 d\u1eebng l\u1ed7 c\u1ee7a b\u1ea1n l\u00e0 3% d\u01b0\u1edbi m\u1ee9c h\u1ed7 tr\u1ee3, khi t\u1edbi m\u1ee9c \u0111\u00f3 b\u1ea1n c\u00f3 th\u1ec3 ch\u1ea7n ch\u1edd kh\u00f4ng b\u00e1n ra v\u00ec ngh\u0129 r\u1eb1ng gi\u00e1 \u0111\u00e3 qu\u00e1 r\u1ebb nh\u01b0ng theo thu\u1eadt to\u00e1n gi\u00e1 n\u00f3 s\u1ebd b\u00e1n ra v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 tr\u00e1nh \u0111\u01b0\u1ee3c m\u1ed9t kho\u1ea3n l\u1ed7 l\u1edbn. Giao d\u1ecbch thu\u1eadt to\u00e1n s\u1ebd lo\u1ea1i b\u1ecf vi\u1ec7c ch\u00e1y t\u00e0i kho\u1ea3n do ch\u1ea7n ch\u1edd trong d\u1eebng l\u1ed7 nh\u01b0ng n\u1ebfu thu\u1eadt to\u00e1n sai n\u00f3 s\u1ebd khu\u1ebfch \u0111\u1ea1i thi\u1ec7t h\u1ea1i; m\u1ed7i thi\u1ec7t h\u1ea1i ch\u1ec9 3% nh\u01b0ng 30 deal d\u1eebng l\u1ed7 li\u00ean ti\u1ebfp s\u1ebd \u0111\u00e1nh bay t\u00e0i kho\u1ea3n c\u1ee7a b\u1ea1n. V\u00ec n\u00f3 th\u1ef1c hi\u1ec7n t\u1eadp h\u1ee3p nhi\u1ec1u l\u1ec7nh trong m\u1ed9t th\u1eddi gian ng\u1eafn n\u00ean khi b\u1ea1n ph\u00e1t hi\u1ec7n ra c\u00f3 khi t\u00e0i kho\u1ea3n \u0111\u00e3 \u00e2m r\u1ed3i.<\/p>\n<p>Gi\u1ea3 \u0111\u1ecbnh b\u1ea1n mu\u1ed1n b\u00e1n 1 tri\u1ec7u cp m\u00e0 kh\u00f4ng mu\u1ed1n l\u00e0m cho gi\u00e1 gi\u1ea3m. C\u00e1ch \u0111\u01a1n gi\u1ea3n l\u00e0 b\u1ea1n chia 1tr cp \u0111\u00f3 ra l\u00e0m 1000 l\u1ec7nh b\u00e1n 1000cp, m\u1ed7i l\u1ec7nh c\u00e1ch nhau 5 ph\u00fat. Sau m\u1ed7i m\u1ed9t t\u1eadp h\u1ee3p l\u1ea7n b\u00e1n b\u1ea1n c\u1ea7n ph\u1ea3i xem vi\u1ec7c b\u00e1n c\u1ee7a m\u00ecnh c\u00f3 \u0111ang l\u00e0m gi\u00e1 th\u1ea5p \u0111i kh\u00f4ng. B\u00e0i to\u00e1n n\u00e0y r\u00f5 r\u00e0ng c\u00f3 th\u1ec3 l\u1eadp tr\u00ecnh \u0111\u01b0\u1ee3c. N\u1ebfu b\u1ea1n l\u00e0m th\u1ee7 c\u00f4ng th\u00ec m\u1ea5t r\u1ea5t nhi\u1ec1u th\u1eddi gian v\u00e0 c\u00f4ng s\u1ee9c. Th\u1ef1c t\u1ebf tr\u00ean b\u1ea3ng giao d\u1ecbch ch\u00fang ta c\u0169ng th\u1ea5y nhi\u1ec1u th\u1eddi \u0111i\u1ec3m gi\u00e1 mua b\u00e1n \u0111\u01b0\u1ee3c \u0111\u1eb7t b\u1eb1ng m\u00e1y; c\u00e1c l\u1ec7nh nh\u1ecf mua li\u00ean t\u1ee5c k\u00edch th\u00edch n\u0111t Fomo mua v\u00e0o (ho\u1eb7c ng\u01b0\u1ee3c l\u1ea1i)<\/p>\n<p>N\u1ebfu c\u00f3 m\u1ed9t h\u1ec7 th\u1ed1ng t\u1ef1 \u0111\u1ed9ng ho\u00e0n h\u1ea3o t\u1ed3n t\u1ea1i th\u00ec ch\u1eafc n\u00f3 s\u1ebd lu\u00f4n th\u1eafng; c\u00e1c n\u0111t kh\u00f4ng d\u00f9ng thu\u1eadt to\u00e1n s\u1ebd thua. Th\u1ef1c t\u1ebf c\u00f3 nh\u1eefng r\u00e0o c\u1ea3n:<\/p>\n<ul class=\"wp-block-list\">\n<li>Thu\u1eadt to\u00e1n: m\u1ea5u ch\u1ed1t \u1edf \u0111\u00e2y r\u00f5 r\u00e0ng l\u00e0 thu\u1eadt to\u00e1n. Thu\u1eadt to\u00e1n l\u00fd t\u01b0\u1edfng lu\u00f4n thay \u0111\u1ed5i v\u00ec giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng l\u00e0 con ng\u01b0\u1eddi, h\u1ecd h\u00e0nh \u0111\u1ed9ng theo c\u1ea3m x\u00fac nhi\u1ec1u h\u01a1n l\u00fd tr\u00ed. M\u1ed9t thu\u1eadt to\u00e1n ho\u00e0n h\u1ea3o ng\u00e0y h\u00f4m nay c\u00f3 th\u1ec3 tu\u1ea7n sau s\u1ebd kh\u00f4ng c\u00f2n \u0111\u00fang n\u1eefa. V\u1edbi kh\u1ea3 n\u0103ng th\u1ef1c hi\u1ec7n h\u00e0ng tr\u0103m l\u1ec7nh m\u1ed7i ph\u00fat, t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 th\u1ed5i bay trong m\u1ed9t n\u1ed1t nh\u1ea1c.<\/li>\n<li>L\u1ed7i d\u1eef li\u1ec7u: thu\u1eadt to\u00e1n c\u1ea7n d\u1eef li\u1ec7u \u0111\u1ea7u v\u00e0o th\u1eddi gian th\u1ef1c v\u00e0 ra l\u1ec7nh b\u00e1n\/mua c\u0169ng trong th\u1eddi gian th\u1ef1c. N\u1ebfu nh\u01b0 k\u1ebft n\u1ed1i b\u1ecb tr\u1ec5 ho\u1eb7c ng\u1eaft trong m\u1ed9t v\u00e0i gi\u00e2y c\u0169ng \u0111\u1ee7 bi\u1ebfn m\u1ed9t l\u1ec7nh mua\/b\u00e1n t\u1eeb \u0111\u00fang th\u00e0nh sai.<\/li>\n<li>Thanh kho\u1ea3n th\u1ea5p: Khi xu\u1ea5t hi\u1ec7n d\u1ea5u hi\u1ec7u b\u00e1n th\u00e1o, th\u01b0\u1eddng h\u1ec7 th\u1ed1ng c\u0169ng s\u1ebd \u0111\u01b0\u1ee3c l\u1eadp tr\u00ecnh \u0111\u1ec3 \u0111\u1eb7t l\u1ec7nh b\u00e1n ngay d\u1eabn t\u1edbi tr\u1eafng b\u00ean mua ch\u1ec9 di\u1ec5n ra trong v\u00e0i ph\u00fat trong khi m\u1ed9t l\u01b0\u1ee3ng l\u1edbn cp m\u00e1y ch\u01b0a k\u1ecbp b\u00e1n ra. Ho\u1eb7c  m\u1ed9t chu\u1ed7i l\u1ec7nh b\u00e1n th\u00e1o k\u00edch ho\u1ea1t b\u00ean b\u00e1n nh\u01b0ng n\u00f3 l\u00e0 b\u1eaby \u0111\u1ec3 b\u00ean mua mua \u0111\u01b0\u1ee3c h\u00e0ng v\u1edbi gi\u00e1 th\u1ea5p sau \u0111\u00f3 cp l\u1ea1i ti\u1ebfp t\u1ee5c \u0111i l\u00ean \u0111\u00fang h\u01b0\u1edbng. H\u1ec7 th\u1ed1ng ch\u1ec9 th\u1ef1c hi\u1ec7n m\u1ed9t l\u1ec7nh khi m\u1ed9t t\u1eadp \u0111i\u1ec1u ki\u1ec7n x\u1ea3y ra, n\u00f3 c\u00f3 th\u1ec3 b\u1ecb m\u1eafc b\u1eaby.<\/li>\n<\/ul>\n<p><strong>C\u00e1c h\u1ec7 th\u1ed1ng thu\u1eadt to\u00e1n b\u00e1n t\u1ef1 \u0111\u1ed9ng:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>B\u1ed9 l\u1ecdc c\u1ed5 phi\u1ebfu: Nhi\u1ec1u cty ch\u1ee9ng kho\u00e1n cung c\u1ea5p d\u1ecbch v\u1ee5 n\u00e0y free. N\u0110T nh\u1eadp m\u1ed9t s\u1ed1 ti\u00eau ch\u00ed sau \u0111\u00f3 d\u1ef1a v\u00e0o ti\u00eau ch\u00ed n\u00e0y h\u1ec7 th\u1ed1ng ch\u1ecdn ra danh s\u00e1ch cp \u0111\u00e1p \u1ee9ng.<\/li>\n<li>\u0110\u1eb7t l\u1ecbch mua\/b\u00e1n: Khi m\u1ed9t t\u1eadp h\u1ee3p \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng x\u1ea3y ra th\u00ec l\u1ec7nh mua\/b\u00e1n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n. N\u0110T bi\u1ebft r\u00f5 l\u00fac n\u00e0o n\u00ean mua, l\u00fac n\u00e0o n\u00ean b\u00e1n.<\/li>\n<li>\u0110\u1ec1 xu\u00e2t giao d\u1ecbch: H\u1ec7 th\u1ed1ng \u0111\u01b0a ra \u0111\u1ec1 xu\u1ea5t; n\u0111t quy\u1ebft \u0111\u1ecbnh thay v\u00ec h\u1ec7 th\u1ed1ng t\u1ef1 \u0111\u1ed9ng th\u1ef1c hi\u1ec7n.<\/li>\n<li>C\u1ea5u h\u00ecnh tham s\u1ed1: L\u00e0 h\u1ec7 th\u1ed1ng giao d\u1ecbch thu\u1eadt to\u00e1n m\u00e0 n\u0111t c\u00f3 th\u1ec3 \u0111i\u1ec1u ch\u1ec9nh c\u00e1c tham s\u1ed1 theo th\u1eddi gian th\u1ef1c nh\u1eb1m thay \u0111\u1ed5i k\u1ebft qu\u1ea3.<\/li>\n<\/ul>\n<p><strong>C\u00e1c thu\u1eadt to\u00e1n b\u00e1n<\/strong> <strong>cp kh\u00f4ng t\u00e1c \u0111\u1ed9ng l\u00ean gi\u00e1<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Thu\u1eadt to\u00e1n POV: Thu\u1eadt to\u00e1n n\u00e0y th\u1ef1c hi\u1ec7n giao d\u1ecbch theo m\u1ed9t t\u1ef7 l\u1ec7 so v\u1edbi thanh kho\u1ea3n th\u1ef1c t\u1ebf. V\u00ed d\u1ee5 n\u1ebfu n\u00f3 c\u1ea7n b\u00e1n 1 tri\u1ec7u cp A v\u1edbi t\u1ef7 l\u1ec7 tham gia 10% th\u00ec m\u1ed7i khi cp A \u0111\u01b0\u1ee3c giao d\u1ecbch 10.000cp th\u00ec n\u00f3 s\u1ebd giao d\u1ecbch 1000 cp. M\u1ee9c \u0111\u1ed9 th\u1ea5p n\u00e0y nh\u1eb1m \u0111\u1ea3m b\u1ea3o kh\u00f4ng b\u1ecb ph\u00e1t hi\u1ec7n, kh\u00f4ng \u1ea3nh h\u01b0\u1edfng l\u00e0m gi\u00e1 gi\u1ea3m nh\u01b0ng n\u1ebfu thanh kho\u1ea3n th\u1ea5p th\u00ec th\u1eddi gian b\u00e1n h\u1ebft s\u1ebd r\u1ea5t d\u00e0i.<\/li>\n<li>Thu\u1eadt to\u00e1n VWAP: Thu\u1eadt to\u00e1n n\u00e1y s\u1ebd \u0111\u01b0a l\u1ec7nh v\u00e0o th\u1ecb tr\u01b0\u1eddng kh\u00e1c nhau v\u1edbi c\u00e1c khung th\u1eddi gian kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o ph\u00e2n t\u00edch c\u1ee7a n\u00f3 v\u1ec1 khung th\u1eddi gian trong qu\u00e1 kh\u1ee9.<\/li>\n<li>Thu\u1eadt to\u00e1n TWAP: Chia nh\u1ecf l\u1ec7nh ra th\u00e0nh c\u00e1c l\u1ec7nh nh\u1ecf v\u00e0 \u0111\u01b0a li\u00ean t\u1ee5c v\u00e0o th\u1ecb tr\u01b0\u1eddng theo c\u00e1c kho\u1ea3ng th\u1eddi gian kh\u00e1c nhau, v\u00ed d\u1ee5 5p ho\u1eb7c th\u1ea5p h\u01a1n. <\/li>\n<\/ul>\n<p><strong>6 y\u1ebfu t\u1ed1 t\u1ea1o n\u00ean thu\u1eadt to\u00e1n giao d\u1ecbch:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>L\u1ef1a ch\u1ecdn CP<\/li>\n<li>\u0110i\u1ec3m mua (m\u1edf v\u1ecb th\u1ebf).<\/li>\n<li>\u0110i\u1ec3m ch\u1ed1t l\u1eddi (tho\u00e1t v\u1ecb th\u1ebf)<\/li>\n<li>\u0110i\u1ec3m d\u1eebng l\u1ed7 (stop loss)<\/li>\n<li>Kh\u1ed1i l\u01b0\u1ee3ng bao nhi\u00eau<\/li>\n<li>Chi\u1ebfn l\u01b0\u1ee3c th\u1ef1c thi mua\/b\u00e1n: mua\/b\u00e1n \u00edt kh\u00f4ng sao nh\u01b0ng mua\/b\u00e1n nhi\u1ec1u th\u00ec ph\u1ea3i c\u00f3 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ec3 trong qu\u00e1 tr\u00ecnh mua kh\u00f4ng l\u00e0m gi\u00e1 t\u0103ng l\u00ean v\u00e0 khi b\u00e1n kh\u00f4ng l\u00e0m gi\u00e1 gi\u1ea3m \u0111i.<\/li>\n<\/ul>\n<p>Tr\u00ean TTCK VN ch\u1ee7 y\u1ebfu giao d\u1ecbch thu\u1eadt to\u00e0n b\u00ean ch\u1ee9ng kho\u00e1n ph\u00e1i sinh. Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ch\u1ec9 c\u00f3 gi\u00e1, kh\u1ed1i l\u01b0\u1ee3ng trong khi ch\u1ee9ng kho\u00e1n c\u01a1 s\u1edf c\u00f2n c\u00f3 ph\u00e2n t\u00edch c\u01a1 b\u1ea3n b\u00e1o c\u00e1o t\u00e0i ch\u00ednh. Th\u1eddi gian giao d\u00edch ch\u1ee9ng kho\u00e1n c\u01a1 s\u1edf l\u00e0 T+1,5 trong khi ph\u00e1i sinh l\u00e0 T+0. Ph\u00ed giao d\u1ecbch ph\u00e1i sinh c\u0169ng ch\u1ec9 b\u1eb1ng 30% so v\u1edbi ph\u00ed ch\u1ee9ng kho\u00e1n c\u01a1 s\u1edf.<\/p>\n<p><strong><span style=\"text-decoration: underline;\">C\u00e1c chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch theo thu\u1eadt to\u00e1n<\/span><\/strong><\/p>\n<p><strong>1. Qu\u00e1n t\u00ednh gi\u00e1 (momentum): <\/strong><\/p>\n<p>N\u0110T t\u00ecm mua cp \u0111ang t\u0103ng gi\u00e1 v\u1edbi gi\u1ea3 thi\u1ebft r\u1eb1ng cp \u0111ang t\u0103ng gi\u00e1 g\u1ea7n \u0111\u00e2y s\u1ebd ti\u1ebfp t\u1ee5c t\u0103ng gi\u00e1 theo \u0111\u00e0 sau \u0111\u00f3 anh ta b\u00e1n \u1edf gi\u00e1 cao h\u01a1n<\/p>\n<p>Nguy\u00ean nh\u00e2n c\u1ee7a qu\u00e1n t\u00ednh gi\u00e1:<\/p>\n<ul class=\"wp-block-list\">\n<li>C\u00e1c N\u0110T th\u01b0\u1eddng ph\u1ea3n \u1ee9ng th\u00e1i qu\u00e1 tr\u01b0\u1edbc nh\u1eefng th\u00f4ng tin v\u00e0 s\u1ef1 ki\u1ec7n d\u1eabn \u0111\u1ebfn gia t\u0103ng s\u1ee9c m\u1ea1nh v\u00e0 k\u00e9o d\u00e0i m\u1ed9t xu h\u01b0\u1edbng qu\u00e1 m\u1ee9c.<\/li>\n<li>H\u00e0nh \u0111\u1ed9ng c\u1ee7a c\u00e1c n\u0111t c\u00f3 t\u1ed1c \u0111\u1ed9 kh\u00e1c nhau. C\u00f3 ng\u01b0\u1eddi ph\u1ea3n \u1ee9ng mua tr\u01b0\u1edbc m\u1ed9t s\u1ef1 ki\u1ec7n t\u1ed1t; c\u00f3 ng\u01b0\u1eddi ch\u1ea7n ch\u1edd \u0111\u1ee9ng ngo\u00e0i \u0111\u1ee3i ph\u1ea3n \u1ee9ng c\u1ee7a c\u00e1c n\u0111t kh\u00e1c; th\u1ea5y cp t\u0103ng th\u00ec m\u1edbi nh\u1ea9y v\u00e0o mua.<\/li>\n<\/ul>\n<p><strong>2. H\u1ed3i quy trung v\u1ecb<\/strong><\/p>\n<p>N\u0110T t\u00ecm mua cp qu\u00e1 th\u1ea5p so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i ho\u1eb7c gi\u00e1 tr\u1ecb trung b\u00ecnh c\u1ee7a n\u00f3. Gi\u00e1 tr\u1ecb trung b\u00ecnh trong m\u1ed9t giai \u0111o\u1ea1n s\u1ebd d\u1ec5 t\u00ednh v\u00e0 \u00e1p d\u1ee5ng h\u01a1n.<\/p>\n<p>C\u0103n c\u1ee9 chi\u1ebfn l\u01b0\u1ee3c n\u00e0y l\u00e0 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a DN thay \u0111\u1ed5i kh\u00f4ng nhi\u1ec1u nh\u01b0ng gi\u00e1 cp thay \u0111\u1ed5i m\u1ed7i ng\u00e0y c\u00f3 th\u1ec3 \u0111i xa kh\u1ecfi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a DN. C\u00e1c N\u0110T theo chi\u1ebfn l\u01b0\u1ee3c n\u00e0y cho r\u1eb1ng trong d\u00e0i h\u1ea1n gi\u00e1 s\u1ebd h\u1ed3i quy v\u1ec1 x\u1ea5p x\u1ec9 gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a DN v\u00ec v\u1eady n\u1ebfu gi\u00e1 \u0111ang qu\u00e1 th\u1ea5p so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i th\u00ec n\u00ean mua.<\/p>\n<p>Kh\u00f3 kh\u0103n c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p n\u00e0y l\u00e0 t\u00ednh \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a DN m\u1ed9t c\u00e1ch ch\u00ednh x\u00e1c.<\/p>\n<p><strong>3. Trung l\u1eadp th\u1ecb tr\u01b0\u1eddng<\/strong><\/p>\n<p>M\u1ee5c ti\u00eau c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c n\u00e0y l\u00e0 gi\u1ea3m thi\u1ec3u r\u1ee7i ro th\u1ecb tr\u01b0\u1eddng chung \u0111\u1ebfn l\u1ee3i nhu\u1eadn danh m\u1ee5c. N\u00f3 bao g\u1ed3m m\u1ed9t nh\u00f3m c\u00e1c chi\u1ebfn l\u01b0\u1ee3c. V\u00ed d\u1ee5 giao d\u1ecbch theo c\u1eb7p, n\u0111t \u0111\u1ed3ng th\u1eddi m\u1edf v\u1ecb th\u1ebf mua v\u00e0 b\u00e1n.<\/p>\n<p>V\u00ed d\u1ee5 N\u0110T l\u1ef1a ch\u1ecdn m\u1ed9t danh m\u1ee5c g\u1ed3m 5 c\u1ed5 phi\u1ebfu: FPT, HPG, TCB, VIC, VPB g\u1ecdi l\u00e0 danh m\u1ee5c VN05. N\u0110T \u0111\u00e1nh gi\u00e1 r\u1eb1ng trong th\u1eddi gian t\u1edbi VN05 s\u1ebd t\u1ed1t h\u01a1n VN30 v\u00e0 quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 600 tri\u1ec7u theo chi\u1ebfn l\u01b0\u1ee3c trung l\u1eadp th\u1ecb tr\u01b0\u1eddng nh\u01b0 sau:<\/p>\n<ul class=\"wp-block-list\">\n<li>Mua 500tr VN05<\/li>\n<li>K\u00fd qu\u1ef9 100tr \u0111\u1ec3 m\u1edf 5 v\u1ecb th\u1ebf b\u00e1n VN30F1M thay \u0111\u1ed5i t\u01b0\u01a1ng quan ho\u00e0n to\u00e0n v\u1edbi VN30<\/li>\n<\/ul>\n<p>Trong c\u1ea3 hai k\u1ecbch b\u1ea3n t\u0103ng v\u00e0 gi\u1ea3m k\u1ebft qu\u1ea3 nh\u01b0 sau:<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"433\" src=\"https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10-1024x433.png\" alt=\"\" class=\"wp-image-19505\" srcset=\"https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10-1024x433.png 1024w, https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10-300x127.png 300w, https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10-768x325.png 768w, https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10-1536x650.png 1536w, https:\/\/chienluocsong.com\/wp-content\/uploads\/image-10.png 1582w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p>Gi\u1ea3 thi\u1ebft \u1edf \u0111\u00e2y n\u0111t k\u1ef3 v\u1ecdng r\u1eb1ng VN05 s\u1ebd t\u1ed1t h\u01a1n VN30 v\u00ec v\u1eady khi th\u1ecb tr\u01b0\u1eddng t\u0103ng th\u00ec VN05 t\u0103ng nhi\u1ec1u h\u01a1n VN30 v\u00e0 khi th\u1ecb tr\u01b0\u1eddng gi\u1ea3m th\u00ec VN05 gi\u1ea3m \u00edt h\u01a1n VN30.<\/p>\n<p>\u01afu \u0111i\u1ec3m c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c n\u00e0y l\u00e0 ch\u1ec9 c\u1ea7n l\u1ef1a ra danh m\u1ee5c VN05 sao cho n\u00f3 t\u1ed1t h\u01a1n so v\u1edbi VN30 m\u00e0 kh\u00f4ng c\u1ea7n quan t\u00e2m gi\u00e1 t\u0103ng hay gi\u1ea3m trong ng\u1eafn h\u1ea1n.<\/p>\n<p><strong>4. Ch\u00eanh l\u1ec7ch gi\u00e1<\/strong><\/p>\n<p>L\u00e0 chi\u1ebfn l\u01b0\u1ee3c t\u1eadn d\u1ee5ng s\u1ef1 ch\u00eanh l\u1ec7ch t\u1ea1m th\u1eddi v\u1ec1 gi\u00e1 c\u1ee7a c\u00f9ng m\u1ed9t lo\u1ea1i t\u00e0i s\u1ea3n \u1edf hai th\u1ecb tr\u01b0\u1eddng kh\u00e1c nhau \u0111\u1ec3 giao d\u1ecbch m\u00e0 kh\u00f4ng ph\u1ea3i ch\u1ecbu nhi\u1ec1u r\u1ee7i ro. Ph\u01b0\u01a1ng ph\u00e1p n\u00e0y th\u01b0\u1eddng ch\u1ec9 \u00e1p d\u1ee5ng v\u1edbi giao d\u1ecbch ngo\u1ea1i t\u1ec7, coin&#8230;Hi\u1ec7n nay c\u00f3 ch\u00eanh l\u1ec7ch gi\u00e1 v\u00e0ng trong n\u01b0\u1edbc v\u00e0 qu\u1ed1c t\u1ebf nh\u01b0ng c\u0169ng kh\u00f4ng t\u1eadn d\u1ee5ng g\u00ec \u0111\u01b0\u1ee3c ngo\u00e0i nh\u1eadp l\u1eadu v\u00e0ng.<\/p>\n<p><strong>5. H\u00e0nh \u0111\u1ed9ng tr\u01b0\u1edbc t\u00e1i c\u00e2n b\u1eb1ng qu\u1ef9 ch\u1ec9 s\u1ed1<\/strong><\/p>\n<p>N\u0110T d\u1ef1 \u0111o\u00e1n h\u00e0nh \u0111\u1ed9ng c\u1ee7a c\u00e1c qu\u1ef9 ho\u00e1n \u0111\u1ed5i danh m\u1ee5c (ETF) theo b\u1ea3n c\u00e1o b\u1ea1ch c\u00f4ng khai v\u00e0 giao d\u1ecbch m\u00f4 ph\u1ecfng theo m\u1ed9t ph\u1ea7n ho\u1eb7c to\u00e0n b\u1ed9 h\u00e0nh \u0111\u1ed9ng n\u00e0y tr\u01b0\u1edbc th\u1eddi \u0111i\u1ec3m t\u00e1i c\u00e2n b\u1eb1ng.<\/p>\n<p>M\u1ecdi qu\u1ef9 ETF \u0111\u1ec1u c\u00f4ng khai quy t\u1eafc t\u00e1i c\u00e2n b\u1eb1ng. B\u1eb1ng c\u00e1ch nghi\u00ean c\u1ee9u, N\u0110T s\u1ebd d\u1ef1 \u0111o\u00e1n lo\u1ea1i\/th\u00eam, t\u0103ng\/gi\u1ea3m c\u00e1c cp trong gi\u1ecf c\u1ee7a ETF.<\/p>\n<\/p>\n<p><strong>6. H\u01b0\u1edbng s\u1ef1 ki\u1ec7n<\/strong><\/p>\n<p>L\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u1ef1a v\u00e0o c\u00e1c s\u1ef1 ki\u1ec7n nh\u01b0 mua b\u00e1n, s\u00e1t nh\u1eadp, t\u00e1i c\u01a1 c\u1ea5u, mua b\u00e1n c\u1ed5 phi\u1ebfu qu\u1ef9, c\u1ed5 t\u1ee9c,&#8230;.N\u0110T ph\u00e2n t\u00edch c\u00e1c s\u1ef1 ki\u1ec7n t\u01b0\u01a1ng lai n\u00e0y \u0111\u1ec3 d\u1ef1 \u0111o\u00e1n gi\u00e1 s\u1ebd bi\u1ebfn \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o.<\/p>\n<p>R\u1ee7i ro c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p n\u00e0y l\u00e0 khi s\u1ef1 ki\u1ec7n \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 r\u1ed9ng r\u00e3i th\u00ec kh\u1ea3 n\u0103ng n\u00f3 \u0111\u00e3 ph\u1ea3n \u00e1nh v\u00e0o gi\u00e1 r\u1ed3i. N\u1ebfu s\u1ef1 ki\u1ec7n \u0111\u1ee7 xa c\u00f3 th\u1ec3 l\u00e0m cho c\u00e1c n\u0111t kh\u00e1c b\u1ecf qu\u00ean v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 mua khi gi\u00e1 c\u00f2n th\u1ea5p. Ngo\u00e0i ra vi\u1ec7c ph\u00e2n t\u00edch ch\u00ednh x\u00e1c m\u1ee9c \u0111\u1ed9 \u1ea3nh h\u01b0\u1edfng c\u1ee7a s\u1ef1 ki\u1ec7n c\u0169ng kh\u00f4ng d\u1ec5 v\u00e0 c\u00f3 th\u1ec3 b\u1ecb t\u00e1c \u0111\u1ed9ng b\u1edfi b\u00ean th\u1ee9 ba. V\u00ed d\u1ee5 khi l\u00e3nh \u0111\u1ea1o DN b\u00e1n cp th\u00ec r\u00f5 r\u00e0ng l\u00e0 m\u1ed9t tin x\u1ea5u nh\u01b0ng c\u00f3 khi sau tin \u0111\u00f3 cp l\u1ea1i t\u0103ng thay v\u00ec gi\u1ea3m. <\/p>\n<p><strong>7. T\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng<\/strong><\/p>\n<p>L\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ed3ng th\u1eddi m\u1edf v\u1ecb th\u1ebf t\u1ea1i gi\u00e1 ch\u1edd mua v\u00e0 b\u00e1n t\u1ea1i gi\u00e0 ch\u1edd b\u00e1n t\u1ed1t nh\u1eaft nh\u1eb1m t\u00ecm ki\u1ebfm l\u1ee3i nhu\u1eadn ch\u00eanh l\u1ec7ch gi\u1eefa mua v\u00e0 b\u00e1n.<\/p>\n<p>R\u1ee7i ro c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p n\u00e0y l\u00e0 v\u1ecb th\u1ebf mua th\u1ef1c hi\u1ec7n \u0111\u01b0\u1ee3c trong khi v\u1ecb th\u1ebf b\u00e1n th\u00ec kh\u00f4ng (ho\u1eb7c ng\u01b0\u1ee3c l\u1ea1i). Ch\u00fang ta \u0111\u1ec3 \u00fd m\u1ed7i cp tr\u00ean b\u1ea3ng \u0111i\u1ec7n \u0111\u1ec1u c\u00f3 \u0111\u1ea7y l\u1ec7nh \u0111\u1eb7t ph\u00eda b\u00ean mua v\u00e0 ph\u00eda b\u00ean b\u00e1n; kh\u00f4ng c\u00f3 m\u1ee9c gi\u00e1 n\u00e0o b\u1ecb b\u1ecf tr\u1ed1ng. \u0110\u00e2y ch\u00ednh l\u00e0 d\u1ea5u v\u1ebft c\u1ee7a nh\u00e0 t\u1ea1o l\u1eadp. H\u1ecd gi\u00fap t\u1ea1o thanh kho\u1ea3n cho CP v\u00e0 h\u1ecd c\u0169ng t\u00ecm l\u1ee3i nhu\u1eadn trong \u0111\u00f3.<\/p>\n<p>N\u0110T nh\u1ecf l\u1ebb c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n h\u00e0nh vi c\u1ee7a nh\u00e0 t\u1ea1o l\u1eadp tr\u00ean cp m\u00e0 ta c\u00f3 s\u1eb5n (v\u00ec VN l\u00e0 T+1,5) v\u00e0 cp \u0111\u00f3 ph\u1ea3i c\u00f3 m\u1ee9c dao \u0111\u1ed9ng \u0111\u1ee7 \u0111\u1ec3 c\u1ea3 l\u1ec7nh mua v\u00e0 b\u00e1n \u0111\u01b0\u1ee3c kh\u1edbp.<\/p>\n<p><strong>8. L\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn<\/strong><\/p>\n<p>L\u00e0 chi\u1ebfn l\u01b0\u1ee3c t\u1eadp trung v\u00e0o s\u1ef1 bi\u1ebfn \u0111\u1ed9ng gi\u00e1 trong khung th\u1eddi gian ng\u1eafn \u0111\u1ec3 m\u1edf \u0111\u00f3ng v\u1ecb th\u1ebf. H\u1ecd th\u1ef1c hi\u1ec7n r\u1ea5t nhi\u1ec1u l\u1ec7nh trong ng\u00e0y v\u00e0 m\u1ed7i l\u1ec7nh ki\u1ebfm m\u1ed9t ch\u00fat. C\u00f3 ba h\u00ecnh th\u1ee9c l\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn:<\/p>\n<ul class=\"wp-block-list\">\n<li>L\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn nh\u01b0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng: \u0110\u1eb7t l\u1ec7nh mua v\u00e0 b\u00e1n \u0111\u1ed3ng th\u1eddi \u1edf hai ph\u00eda. Ph\u00f9 h\u1ee3p v\u1edbi CP c\u00f3 thanh kho\u1ea3n cao, bi\u00ean \u0111\u1ed9 dao \u0111\u1ed9ng l\u1edbn.<\/li>\n<li>L\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn v\u1edbi t\u00e2m th\u1ebf nh\u00e0 \u0111\u1ea7u t\u01b0: N\u0110T mua s\u1ed1 l\u01b0\u1ee3ng l\u1edbn CP c\u00f3 n\u1ec1n t\u1ea3ng t\u1ed1t v\u00e0 \u0111\u1ee3i gi\u00e1 \u0111i l\u00ean. N\u0110T l\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn s\u1ebd mua v\u00e0 ch\u1ed1t \u1edf LN 2%.<\/li>\n<li>L\u01b0\u1edbt s\u00f3ng si\u00eau ng\u1eafn theo m\u1eabu h\u00ecnh ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt: N\u0110T ch\u1edd \u0111\u1ee3i s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a m\u1ed9t m\u1eabu h\u00ecnh nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 m\u1edf v\u1ecb th\u1ebf v\u00e0 ch\u1ed1t l\u1eddi nhanh ch\u00f3ng. M\u1ee9c d\u1eebng l\u1ed7 s\u1ebd ngang b\u1eb1ng m\u1ee9c ch\u1ed1t l\u1eddi nh\u01b0ng N\u0110T k\u1ef3 v\u1ecdng t\u1ef7 l\u1ec7 th\u1eafng\/thua cao.<\/li>\n<\/ul>\n<p>N\u0110T theo chi\u1ebfn l\u01b0\u1ee3c n\u00e0y s\u1ebd ph\u1ea3i qu\u1ea3n l\u00fd r\u1ee7i ro r\u1ea5t t\u1ed1t v\u00e0 c\u1ea7n t\u00ednh to\u00e1n c\u1ea3 ph\u00ed giao d\u1ecbch.<\/p>\n<p><strong>9.Beta v\u01b0\u1ee3t tr\u1ed9i<\/strong><\/p>\n<p>D\u1ef1a tr\u00ean c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n c\u1ee7a DN nh\u01b0 thanh kho\u1ea3n, gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, ch\u1ea5t l\u01b0\u1ee3ng DN \u0111\u1ec3 l\u00e0m ti\u00eau ch\u00ed ra quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0. N\u0110T s\u1ebd n\u1eafm gi\u1eef CP t\u1ed1t v\u1edbi t\u1ef7 tr\u1ecdng l\u1edbn v\u00e0 ng\u01b0\u1ee3c l\u1ea1i.<\/p>\n<p>V\u00ed d\u1ee5 N\u0110T c\u00f3 th\u1ec3 d\u1ef1a v\u00e0o ch\u1ec9 s\u1ed1 P\/E. Anh ta k\u1ef3 v\u1ecdng P\/E th\u1ea5p c\u00f3 ngh\u0129a l\u00e0 kh\u1ea3 n\u0103ng gi\u00e1 t\u0103ng s\u1ebd cao h\u01a1n v\u1edbi P\/E cao trong m\u1ed9t kho\u1ea3ng th\u1eddi gian.<\/p>\n<p>C\u00e1c y\u1ebfu t\u1ed1 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng ph\u1ed5 bi\u1ebfn:<\/p>\n<ul class=\"wp-block-list\">\n<li>Gi\u00e1 tr\u1ecb: Trong d\u00e0i h\u1ea1n m\u1ed9t CP b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p c\u00f3 t\u1ef7 su\u1ea5t sinh l\u1eddi cao h\u01a1n CP b\u1ecb \u0111\u1ecbnh gi\u00e1 cao. C\u00e1c y\u1ebfu t\u1ed1 \u0111o l\u01b0\u1eddng l\u00e0 P\/E, C\u1ed5 t\u1ee9c, thu nh\u1eadp, d\u00f2ng ti\u1ec1n, EBIT, EBITDA.<\/li>\n<li>V\u1ed1n h\u00f3a: CP c\u00f3 v\u1ed1n h\u00f3a nh\u1ecf d\u1ec5 t\u0103ng gi\u00e1 m\u1ea1nh h\u01a1n so v\u1edbi CP c\u00f3 v\u1ed1n h\u00f3a l\u1edbn.<\/li>\n<li>\u0110\u1ed9 bi\u1ebfn \u0111\u1ed9ng: T\u0103ng t\u1ef7 tr\u1ecdng c\u00e1c cp c\u00f3 r\u1ee7i ro th\u1ea5p gi\u00fap c\u1ea3i thi\u1ec7n l\u1ee3i nhu\u1eadn tr\u00ean r\u1ee7i ro c\u1ee7a danh m\u1ee5c.<\/li>\n<li>Ch\u1ea5t l\u01b0\u1ee3ng: C\u00e1c cty t\u1ed1t c\u00f3 xu h\u01b0\u1edbng t\u0103ng gi\u00e1 theo th\u1eddi gian; gi\u00e1 cp s\u1ebd t\u0103ng t\u01b0\u01a1ng \u1ee9ng. C\u00e1c ti\u00eau ch\u00ed nh\u01b0 kh\u1ea3 n\u0103ng sinh l\u1eddi, l\u1ee3i nhu\u1eadn \u1ed5n \u0111\u1ecbnh, t\u1ef7 l\u1ec7 s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y th\u1ea5p.<\/li>\n<li>Qu\u00e1n t\u00ednh gi\u00e1: C\u00e1c cp t\u0103ng gi\u00e1 m\u1ea1nh g\u1ea7n \u0111\u00e2y c\u00f3 xu h\u01b0\u1edbng ti\u1ebfp t\u1ee5c t\u0103ng gi\u00e1 theo \u0111\u00e0.<\/li>\n<\/ul>\n<p><strong>10.Truy v\u1ebft<\/strong><\/p>\n<p>D\u1ef1a v\u00e0o d\u1eef li\u1ec7u giao d\u1ecbch th\u1eddi gian th\u1ef1c \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh h\u00e0nh \u0111\u1ed9ng c\u1ee7a c\u00e1 nh\u00e2n ho\u1eb7c t\u1ed5 ch\u1ee9c v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch l\u1edbn. Gi\u1ea3 \u0111\u1ecbnh r\u1eb1ng h\u00e0nh \u0111\u1ed9ng n\u00e0y k\u00e9o d\u00e0i c\u00f3 ngh\u0129a l\u00e0 h\u1ecd c\u00f3 l\u1ee3i th\u1ebf th\u00f4ng tin n\u00e0o \u0111\u00f3.<\/p>\n<p>Thu\u1eadt to\u00e1n truy v\u1ebft s\u1ebd t\u00ecm ra d\u1ea5u v\u1ebft c\u1ee7a c\u00e1c thu\u1eadt to\u00e1n kh\u00e1c th\u00f4ng qua m\u00f4 h\u00ecnh l\u1eb7p \u0111i l\u1eb7p l\u1ea1i cao h\u01a1n nhi\u1ec1u so v\u00f3i t\u1ea7n su\u1ea5t ng\u1eabu nhi\u00ean. Sau khi x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c thu\u1eadt to\u00e1n kh\u00e1c \u0111ang di\u1ec5n ra n\u00f3 c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n <strong>c\u00f9ng l\u1ec7nh v\u1edbi thu\u1eadt to\u00e1n \u0111\u00f3<\/strong> v\u1edbi gi\u1ea3 thi\u1ebft r\u1eb1ng thu\u1eadt to\u00e1n \u0111\u00f3 c\u00f3 l\u1ee3i th\u1ebf v\u1ec1 m\u1eb7t th\u00f4ng tin.<\/p>\n<p>C\u00e1c m\u00f4 h\u00ecnh giao d\u1ecbch th\u01b0\u1eddng xu\u1ea5t hi\u1ec7n:<\/p>\n<ul class=\"wp-block-list\">\n<li>TWAP: \u0110\u1eb7c t\u00ednh c\u1ee7a TWAP l\u00e0 c\u00e1c l\u1ec7nh v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng nh\u01b0 nhau \u0111\u1eb7t c\u00e1ch nhau m\u1ed9t kho\u1ea3ng th\u1eddi gian c\u1ed1 \u0111\u1ecbnh. <\/li>\n<li>Ch\u1ebb l\u1ec7nh (Order Splitting):  l\u00e0 nhi\u1ec1u l\u1ec7nh kh\u1ed1i l\u01b0\u1ee3ng nh\u1ecf trong m\u1ed9t kho\u1ea3ng th\u01a1i gian nh\u1ecf h\u01a1n m\u1ed9t gi\u00e2y.<\/li>\n<li>T\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng: Thu\u1eadt to\u00e1n n\u00e0y th\u1ef1c hi\u1ec7n m\u1ea1nh m\u1ebd \u1edf gi\u00e1 ch\u00e0o mua 1 v\u00e0 gi\u00e1 ch\u00e0o b\u00e1n 1.<\/li>\n<li>Qu\u00e1n t\u00ednh gi\u00e1: \u1edf VN ch\u1ec9 c\u00f3 tr\u00ean ch\u1ee9ng kho\u00e1n ph\u00e1i sinh. \u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a thu\u1eadt to\u00e1n l\u00e0 mua khi th\u1ecb tr\u01b0\u1eddng \u0111i l\u00ean v\u00e0 b\u00e1n khi th\u1ecb tr\u01b0\u1eddng \u0111i xu\u1ed1ng. Khi thu\u1eadt to\u00e1n \u0111\u01b0\u1ee3c k\u00edch ho\u1ea1t th\u01b0\u1eddng t\u1ea1o ra m\u1ed9t kho\u1ea3ng tr\u01b0\u1ee3t gi\u00e1 l\u1edbn. Theo d\u00f5i c\u00e1c \u0111i\u1ec3m tr\u01b0\u1ee3t gi\u00e1 l\u1edbn l\u1eb7p \u0111i l\u1eb7p l\u1ea1i trong nhi\u1ec1u ng\u00e0y c\u00f3 th\u1ec3 d\u1ef1 b\u00e1o \u0111\u01b0\u1ee3c m\u00f4 h\u00ecnh c\u1ee7a c\u00e1c thu\u1eadt to\u00e1n qu\u00e1n t\u00ednh gi\u00e1 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng l\u1edbn \u0111ang ho\u1ea1t \u0111\u1ed9ng.<\/li>\n<\/ul>\n<p>M\u1ea5u ch\u1ed1t c\u1ee7a thu\u1eadt to\u00e1n truy v\u1ebft l\u00e0 n\u00f3 t\u00ecm d\u1ea5u hi\u1ec7u c\u1ee7a s\u1ef1 l\u1eb7p \u0111i l\u1eb7p l\u1ea1i. \u0110\u1ec3 tr\u00e1nh b\u1ecb ph\u00e1t hi\u1ec7n c\u00e1c thu\u1eadt to\u00e1n c\u00f3 th\u1ec3 th\u00eam c\u00e1c bi\u1ebfn ng\u1eabu nhi\u00ean.<\/p>\n<p><strong>11. L\u01b0\u1edbi<\/strong><\/p>\n<p>N\u0110T thi\u1ebft l\u1eadp m\u1ed9t l\u01b0\u1edbi gi\u00e1 li\u00ean t\u1ee5c mua v\u00e0 b\u00e1n \u1edf c\u00e1c m\u1ee9c gi\u00e1. N\u00f3 ph\u00f9 h\u1ee3p khi cp \u0111i ngang trong v\u00f9ng h\u1ed7 tr\u1ee3-kh\u00e1ng c\u1ef1. C\u00e1ch n\u00e0y t\u1ea5t nhi\u00ean kh\u00f4ng ph\u00f9 h\u1ee3p v\u1edbi cp c\u00f3 xu h\u01b0\u1edbng.<\/p>\n<hr>\n<p><strong>Ngu\u1ed3n:<\/strong> <a href=\"https:\/\/chienluocsong.com\/giao-dich-theo-thuat-toan\/\" target=\"_blank\" rel=\"noopener noreferrer\">Giao d\u1ecbch theo thu\u1eadt to\u00e1n \u2014 chienluocsong.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: https:\/\/chienluocsong.com\/giao-dich-theo-thuat-toan\/<\/p>\n","protected":false},"author":1,"featured_media":1136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chienluocsong"],"_links":{"self":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1135"}],"version-history":[{"count":1,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1135\/revisions"}],"predecessor-version":[{"id":1455,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1135\/revisions\/1455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/media\/1136"}],"wp:attachment":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}