> Are individual investors or non-HFT participants being "fleeced" in every transaction by those who are able to take advantage of timing? And a follow up ques

> Are individual investors or non-HFT participants being "fleeced" in every transaction by those who are able to take advantage of timing? And a follow up question: Wouldn't the results of this be unpredictable because the price could either be lower or higher than when the individual non-HFTer pulled the trigger to execute the trade?