{"id":3555,"date":"2026-05-19T12:41:32","date_gmt":"2026-05-19T05:41:32","guid":{"rendered":"https:\/\/ckvn.net\/chung-khoan\/?p=3555"},"modified":"2026-05-19T12:55:35","modified_gmt":"2026-05-19T05:55:35","slug":"cach-de-tranh-chot-loi-hut-khi-dau-tu-chung-khoan","status":"publish","type":"post","link":"https:\/\/ckvn.net\/chung-khoan\/kinh-nghiem-giao-dich-chung-khoan\/cach-de-tranh-chot-loi-hut-khi-dau-tu-chung-khoan\/","title":{"rendered":"C\u00e1ch \u0111\u1ec3 tr\u00e1nh ch\u1ed1t l\u1eddi ‘h\u1ee5t’ khi \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n"},"content":{"rendered":"\n

Chuy\u00ean gia khuy\u00ean chia nh\u1ecf c\u00e1c l\u1ea7n ch\u1ed1t l\u1eddi, x\u00e1c \u0111\u1ecbnh r\u00f5 nguy\u00ean t\u1eafc v\u00e0 h\u1ea1n ch\u1ebf l\u1ea5y m\u1ee9c gi\u00e1 cao tr\u01b0\u1edbc \u0111\u00f3 l\u00e0m c\u01a1 s\u1edf cho hi\u1ec7n t\u1ea1i.<\/p>\n\n\n\n

T\u00f4i \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n c\u0169ng \u0111\u01b0\u1ee3c v\u00e0i n\u0103m nh\u01b0ng b\u1ea3n th\u00e2n t\u1ef1 nh\u1eadn th\u1ea5y m\u1ed9t “t\u1eadt” r\u1ea5t l\u1edbn, \u0111\u00f3 ch\u00ednh l\u00e0 hay ch\u1ed1t l\u1eddi “h\u1ee5t”. V\u00ed d\u1ee5 tr\u01b0\u1eddng h\u1ee3p g\u1ea7n nh\u1ea5t l\u00e0 v\u1edbi c\u1ed5 phi\u1ebfu NVL. T\u00f4i mua t\u1eeb h\u1ed3i 10.000 \u0111\u1ed3ng, \u0111\u1ebfn cu\u1ed1i th\u00e1ng 4, NVL l\u00ean h\u01a1n 20.000 \u0111\u1ed3ng, t\u00ednh b\u00e1n nh\u01b0ng s\u1ee3 n\u00f3 t\u0103ng ti\u1ebfp, sau n\u00e0y s\u1ebd ti\u1ebfc, n\u00ean gi\u1eef l\u1ea1i v\u00e0 ch\u1edd \u0111\u1ee3i th\u00eam. K\u1ebft qu\u1ea3 l\u00e0 m\u00e3 n\u00e0y gi\u1ea3m v\u1ec1 16.000 \u0111\u1ed3ng m\u1ea5y ng\u00e0y g\u1ea7n \u0111\u00e2y, t\u00f4i m\u1edbi v\u1ed9i v\u00e0ng b\u00e1n ra, h\u1ee5t m\u1ea5t 40 tri\u1ec7u ti\u1ec1n l\u00e3i.<\/p>\n\n\n\n

C\u00f3 c\u00e1ch n\u00e0o \u0111\u1ec3 t\u00f4i h\u1ea1n ch\u1ebf vi\u1ec7c n\u00e0y kh\u00f4ng?<\/p>\n\n\n\n

C\u1ea9m T\u00fa<\/strong><\/p>\n\n\n

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Nh\u00e0 \u0111\u1ea7u t\u01b0 theo d\u00f5i th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n t\u1ea1i m\u1ed9t c\u00f4ng ty \u1edf TP HCM. \u1ea2nh: Thanh T\u00f9ng<\/em><\/p>\n\n\n\n

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Chuy\u00ean gia t\u01b0 v\u1ea5n:<\/strong><\/p>\n\n\n\n

\u0110\u00e2y l\u00e0 t\u00e2m l\u00fd r\u1ea5t ph\u1ed5 bi\u1ebfn c\u1ee7a nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0, \u0111\u1eb7c bi\u1ec7t trong nh\u1eefng giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh ho\u1eb7c c\u1ed5 phi\u1ebfu t\u0103ng n\u00f3ng. T\u00f4i s\u1ebd chia s\u1ebb m\u1ed9t s\u1ed1 g\u00f3c nh\u00ecn chung v\u1ec1 t\u00e2m l\u00fd h\u1ecdc h\u00e0nh vi c\u1ee7a con ng\u01b0\u1eddi v\u00e0 c\u00e1ch gi\u1ea3m \u00e1p l\u1ef1c trong \u0111\u1ea7u t\u01b0 \u0111\u1ec3 b\u1ea1n c\u00f3 th\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n.<\/p>\n\n\n\n

Tr\u01b0\u1edbc h\u1ebft, trong behavioral finance (t\u00e0i ch\u00ednh h\u00e0nh vi) c\u00f3 m\u1ed9t kh\u00e1i ni\u1ec7m g\u1ecdi l\u00e0 “hi\u1ec7u \u1ee9ng m\u1ecf neo” (anchoring heuristic). Hi\u1ec3u \u0111\u01a1n gi\u1ea3n, n\u00e3o b\u1ed9 th\u01b0\u1eddng b\u00e1m v\u00e0o m\u1ed9t m\u1ee9c gi\u00e1 n\u00e0o \u0111\u00f3 r\u1ed3i xem \u0111\u00f3 l\u00e0 m\u1ed1c chu\u1ea9n \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh.<\/p>\n\n\n\n

Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a b\u1ea1n, c\u00f3 th\u1ec3 t\u1ed3n t\u1ea1i c\u00f9ng l\u00fac hai “m\u1ecf neo” t\u00e2m l\u00fd. M\u1ecf neo \u0111\u1ea7u ti\u00ean l\u00e0 gi\u00e1 mua 10.000 \u0111\u1ed3ng. V\u00ec mua \u1edf v\u00f9ng gi\u00e1 th\u1ea5p n\u00ean khi c\u1ed5 phi\u1ebfu \u0111i\u1ec1u ch\u1ec9nh t\u1eeb 20.000 v\u1ec1 16.000 \u0111\u1ed3ng, nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn c\u00f3 xu h\u01b0\u1edbng ngh\u0129 r\u1eb1ng “m\u00ecnh c\u00f2n l\u1eddi nhi\u1ec1u”, t\u1eeb \u0111\u00f3 tr\u00ec ho\u00e3n quy\u1ebft \u0111\u1ecbnh b\u00e1n ra.<\/p>\n\n\n\n

Tuy nhi\u00ean, m\u1ecf neo m\u1ea1nh h\u01a1n l\u1ea1i l\u00e0 v\u00f9ng gi\u00e1 h\u01a1n 20.000 \u0111\u1ed3ng m\u00e0 NVL t\u1eebng \u0111\u1ea1t \u0111\u01b0\u1ee3c. T\u1eeb th\u1eddi \u0111i\u1ec3m c\u1ed5 phi\u1ebfu l\u00ean m\u1ee9c n\u00e0y, n\u00e3o b\u1ed9 b\u1eaft \u0111\u1ea7u m\u1eb7c \u0111\u1ecbnh \u0111\u00e2y m\u1edbi l\u00e0 “gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd” c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0. V\u00ec v\u1eady, khi c\u1ed5 phi\u1ebfu gi\u1ea3m d\u1ea7n, c\u1ea3m gi\u00e1c kh\u00f4ng c\u00f2n l\u00e0 “v\u1eabn \u0111ang c\u00f3 l\u00e3i”, m\u00e0 chuy\u1ec3n th\u00e0nh “m\u00ecnh \u0111ang m\u1ea5t \u0111i kho\u1ea3n l\u1ee3i nhu\u1eadn t\u1eebng c\u00f3”. \u0110\u00e2y l\u00e0 l\u00fd do nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea3m th\u1ea5y r\u1ea5t ti\u1ebfc nu\u1ed1i d\u00f9 th\u1ef1c t\u1ebf v\u1eabn \u0111ang sinh l\u1eddi kh\u00e1 l\u1edbn so v\u1edbi gi\u00e1 v\u1ed1n ban \u0111\u1ea7u.<\/p>\n\n\n\n

Ngo\u00e0i hi\u1ec7u \u1ee9ng m\u1ecf neo, y\u1ebfu t\u1ed1 FOMO (s\u1ee3 b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i) c\u0169ng \u1ea3nh h\u01b0\u1edfng l\u1edbn. Khi c\u1ed5 phi\u1ebfu t\u0103ng m\u1ea1nh, nh\u00e0 \u0111\u1ea7u t\u01b0 th\u01b0\u1eddng lo r\u1eb1ng n\u1ebfu b\u00e1n qu\u00e1 s\u1edbm, c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c t\u0103ng v\u00e0 m\u00ecnh s\u1ebd “b\u1ecf l\u1ee1” ph\u1ea7n l\u1ee3i nhu\u1eadn ph\u00eda sau. \u0110i\u1ec1u n\u00e0y khi\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi kh\u00f4ng b\u00e1n trong l\u00fac h\u01b0ng ph\u1ea5n, nh\u01b0ng l\u1ea1i b\u00e1n khi c\u1ea3m x\u00fac b\u1eaft \u0111\u1ea7u \u00e1p l\u1ef1c v\u00e0 kh\u00f3 ch\u1ecbu h\u01a1n. N\u00f3i c\u00e1ch kh\u00e1c, quy\u1ebft \u0111\u1ecbnh b\u00e1n l\u00fac \u0111\u00f3 kh\u00f4ng c\u00f2n ho\u00e0n to\u00e0n d\u1ef1a tr\u00ean chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0, m\u00e0 l\u00e0 \u0111\u1ec3 gi\u1ea3i t\u1ecfa \u00e1p l\u1ef1c t\u00e2m l\u00fd.<\/p>\n\n\n\n

M\u1ed9t \u0111i\u1ec1u quan tr\u1ecdng l\u00e0 ngay c\u1ea3 c\u00e1c chuy\u00ean gia \u0111\u1ea7u t\u01b0 hay qu\u1ef9 chuy\u00ean nghi\u1ec7p c\u0169ng kh\u00f4ng th\u1ec3 li\u00ean t\u1ee5c d\u1ef1 \u0111o\u00e1n ch\u00ednh x\u00e1c “\u0111\u1ec9nh” v\u00e0 “\u0111\u00e1y” c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Vi\u1ec7c mua ch\u01b0a \u0111\u00fang “\u0111\u00e1y” ho\u1eb7c b\u00e1n ch\u01b0a \u0111\u00fang “\u0111\u1ec9nh” th\u1ef1c t\u1ebf l\u00e0 \u0111i\u1ec1u r\u1ea5t b\u00ecnh th\u01b0\u1eddng trong \u0111\u1ea7u t\u01b0. V\u00ec v\u1eady, thay v\u00ec c\u1ed1 t\u00ecm “\u0111i\u1ec3m b\u00e1n ho\u00e0n h\u1ea3o”, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean t\u1eadp trung v\u00e0o vi\u1ec7c x\u00e2y d\u1ef1ng m\u1ed9t h\u1ec7 th\u1ed1ng \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi kh\u1ea9u v\u1ecb r\u1ee7i ro v\u00e0 m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee7a m\u00ecnh.<\/p>\n\n\n\n

\u0110\u1ec3 h\u1ea1n ch\u1ebf c\u1ea3m gi\u00e1c ti\u1ebfc nu\u1ed1i ho\u1eb7c b\u1ecb c\u1ea3m x\u00fac chi ph\u1ed1i qu\u00e1 m\u1ea1nh, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 chia nh\u1ecf c\u00e1c l\u1ea7n ch\u1ed1t l\u1eddi thay v\u00ec b\u00e1n to\u00e0n b\u1ed9 trong m\u1ed9t l\u1ea7n; x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc nguy\u00ean t\u1eafc b\u00e1n khi mua c\u1ed5 phi\u1ebfu; h\u1ea1n ch\u1ebf l\u1ea5y m\u1ee9c gi\u00e1 cao t\u1eebng \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u00e0m c\u01a1 s\u1edf cho quy\u1ebft \u0111\u1ecbnh hi\u1ec7n t\u1ea1i. B\u00ean c\u1ea1nh \u0111\u00f3, b\u1ea1n c\u00f3 th\u1ec3 t\u1ef1 \u0111\u1eb7t c\u00e2u h\u1ecfi: N\u1ebfu h\u00f4m nay ch\u01b0a s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu n\u00e0y, b\u1ea3n th\u00e2n c\u00f3 c\u00f2n mu\u1ed1n mua \u1edf v\u00f9ng gi\u00e1 hi\u1ec7n t\u1ea1i hay kh\u00f4ng?<\/p>\n\n\n\n

Cu\u1ed1i c\u00f9ng, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng n\u00ean l\u01b0u \u00fd r\u1eb1ng th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n lu\u00f4n v\u1eadn \u0111\u1ed9ng theo chu k\u1ef3 kinh t\u1ebf. \u1ede c\u00e1c giai \u0111o\u1ea1n thanh kho\u1ea3n d\u1ed3i d\u00e0o v\u00e0 t\u00e2m l\u00fd h\u01b0ng ph\u1ea5n, nhi\u1ec1u c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 t\u0103ng r\u1ea5t m\u1ea1nh trong th\u1eddi gian ng\u1eafn. Ng\u01b0\u1ee3c l\u1ea1i, khi n\u1ec1n kinh t\u1ebf b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i ho\u1eb7c d\u00f2ng ti\u1ec1n suy y\u1ebfu, \u00e1p l\u1ef1c \u0111i\u1ec1u ch\u1ec9nh th\u01b0\u1eddng xu\u1ea5t hi\u1ec7n.<\/p>\n\n\n\n

Do \u0111\u00f3, thay v\u00ec ch\u1ec9 t\u1eadp trung v\u00e0o bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ee7a m\u1ed9t m\u00e3 c\u1ed5 phi\u1ebfu ri\u00eang l\u1ebb, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean quan s\u00e1t th\u00eam xu h\u01b0\u1edbng l\u00e3i su\u1ea5t, t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf, d\u00f2ng ti\u1ec1n tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u00e0 v\u1ecb tr\u00ed hi\u1ec7n t\u1ea1i c\u1ee7a chu k\u1ef3 kinh t\u1ebf.<\/p>\n\n\n

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\u0110i\u1ec3m \u0111\u1eb7c tr\u01b0ng c\u1ee7a c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 t\u00f9y theo chu k\u1ef3 kinh t\u1ebf.<\/figcaption><\/figure><\/div>\n\n\n

M\u1ed9t s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 l\u1ef1a ch\u1ecdn c\u00e1ch ti\u1ebfp c\u1eadn d\u00e0i h\u1ea1n th\u00f4ng qua t\u00edch s\u1ea3n c\u1ed5 phi\u1ebfu, qu\u1ef9 m\u1edf c\u1ed5 phi\u1ebfu ho\u1eb7c qu\u1ef9 ETF \u0111\u1ec3 gi\u1ea3m \u00e1p l\u1ef1c ph\u1ea3i li\u00ean t\u1ee5c \u201cmua \u0111\u00fang \u0111\u00e1y \u2013 b\u00e1n \u0111\u00fang \u0111\u1ec9nh\u201d, nh\u01b0ng v\u1eabn h\u01b0\u1edbng t\u1edbi l\u1ee3i nhu\u1eadn b\u1ec1n v\u1eefng theo th\u1eddi gian. Khi nh\u00ecn theo chu k\u1ef3 d\u00e0i h\u1ea1n v\u00e0 \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c, t\u00e2m l\u00fd \u0111\u1ea7u t\u01b0 th\u01b0\u1eddng \u1ed5n \u0111\u1ecbnh h\u01a1n, \u00edt b\u1ecb dao \u0111\u1ed9ng b\u1edfi nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n.<\/p>\n\n\n\n

Tuy nhi\u00ean, \u0111\u1ec3 \u0111i \u0111\u01b0\u1ee3c con \u0111\u01b0\u1eddng n\u00e0y m\u1ed9t c\u00e1ch b\u00e0i b\u1ea3n, nh\u00e0 \u0111\u1ea7u t\u01b0 r\u1ea5t c\u1ea7n m\u1ed9t ng\u01b0\u1eddi t\u01b0 v\u1ea5n v\u00e0 m\u1ed9t broker \u0111\u1ed3ng h\u00e0nh<\/a><\/strong> \u2014 kh\u00f4ng ch\u1ec9 \u0111\u1ec3 h\u1ed7 tr\u1ee3 l\u1ef1a ch\u1ecdn s\u1ea3n ph\u1ea9m ph\u00f9 h\u1ee3p, m\u00e0 c\u00f2n gi\u00fap gi\u1eef k\u1ef7 lu\u1eadt, ki\u1ec3m so\u00e1t c\u1ea3m x\u00fac v\u00e0 tr\u00e1nh nh\u1eefng quy\u1ebft \u0111\u1ecbnh mang t\u00ednh b\u1ed1c \u0111\u1ed3ng.<\/p>\n\n\n\n

Tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, \u0111i\u1ec1u kh\u00f3 nh\u1ea5t th\u01b0\u1eddng kh\u00f4ng ph\u1ea3i l\u00e0 t\u00ecm ra c\u1ed5 phi\u1ebfu t\u0103ng gi\u00e1, m\u00e0 l\u00e0 gi\u1eef \u0111\u01b0\u1ee3c s\u1ef1 t\u1ec9nh t\u00e1o khi c\u1ea3m x\u00fac b\u1eaft \u0111\u1ea7u b\u1ecb cu\u1ed1n theo bi\u1ebfn \u0111\u1ed9ng l\u1ee3i nhu\u1eadn. M\u1ed9t ng\u01b0\u1eddi \u0111\u1ed3ng h\u00e0nh \u0111\u00fang l\u00fac \u0111\u00f4i khi ch\u00ednh l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh gi\u00fap b\u1ea1n \u0111i \u0111\u01b0\u1ee3c \u0111\u01b0\u1eddng d\u00e0i.<\/p>\n\n\n\n

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Gi\u1edbi thi\u1ec7u Tan Phan (TpInvest)<\/a><\/blockquote>