Lesson 2: The spread is the price of immediacy — you pay it every round trip.Buy, then sell a second later.You buy a stock, then sell it a second later — before its price has moved at all. What happens to your money?AYou break evenNothing moved, so you get every cent back.BYou come out slightly aheadBrokers rebate a little on fast round trips.CYou lose a little, even though the price never budged.