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Binary Options Trading 2022

Binary options trading hinges on a simple question – volition the underlying nugget exist above or below a certain price at a specified fourth dimension? Binary options are ane of the simplest instruments to trade, but exactly what are binary options, and what are their benefits and drawbacks? This page volition respond those questions, too as detailing how to kickoff 24-hour interval trading binary options, including strategies, tips, and regional differences to be aware of.

Run across all binary options brokers

What Are Binary Options?

Firstly, allow’due south take a look at how information technology all works. Put simply, binary options are a derivative that tin be traded on whatsoever instrument or marketplace. They appeal because they are straightforward. You know precisely how much you lot could win, or lose before you make the trade. No circuitous maths and calculator is required. This is why they are also known as ‘all or aught’ trades.

If you anticipate news announcements, quarterly reviews, or global trends, then you may be able to make an accurate determination as to whether the price is going to increase or decline at a certain indicate in the future, turning a profit.

There is a whole host of derivatives to choose between. You can trade binary options on commodity value, such as aluminium and crude oil. You tin can opt for a stock price, such every bit Amazon and Facebook. There are foreign exchange rate options, including all the major and small pairs. Even cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are on the menu.

A Cursory History

If y’all want to start with binary trading full-time, a detailed understanding of their origins will aid. Binary or digital options have been around for decades. Originally though, it was only large institutions and the fabulously wealthy that had access. However, 2008 saw the United states of america Securities and Exchange Commission open up the floodgates by allowing binary options to be traded through an exchange.

The internet and technology have since given the whole world access to these binary all or zippo options. Every bit it stands, with low barriers to entry for savvy mean solar day traders and a unproblematic to sympathize preposition, the demand for these digital options will only increase.

Option Types

There are a number of unlike option types to cull from. The near pop types are listed in the cursory glossary below.

• Up/Downwardly (High/Low)
  – The most uncomplicated and prevalent binary option. Will the price be college or lower than the electric current toll when the expiry fourth dimension comes?
• In/Out (Range or Boundary)
  – A ‘high’ and ‘low’ figure will be set. You are so making a determination as to whether the price volition finish within or outside of these boundaries.
• Impact/No Impact
  – Levels volition be set that are either higher or lower than the electric current price. You then enter a position as to whether the price will ‘touch’ these levels between the fourth dimension of merchandise and decease. Payout will come as soon as the touch takes place.
• Ladder
  – These are similar to up/downwards trades. Even so, instead of using the current price, the ladder will accept pre-adamant levels that are staggered upwards or downward. These normally demand a substantial toll move. The flip side of this is returns volition oftentimes exceed 100%. Although information technology is worth noting, both sides of a trade are non always available.

Expiry Times

Some other important component of binary options is expiry times. This is when the trade will end and the point that determines whether you lot have won or lost. These times can range from thirty seconds and ane minute (turbos) to a full twenty-four hour period (cease of twenty-four hours), and even up to a whole year.

As an intraday trader though, you will exist more concerned with trading 5 and xxx-minute binary options. Opt for binaries with ane minute expiry times though and you have the ability to make a high number of trades in a unmarried day.

Is Trading Binary Options Legal?

Despite the somewhat negative reputation, the reality is binary options are legal. The majority of companies operate fairly. Opinions have been divide because there are some out there that operate scams.

Regulation in certain regions has meant binaries have been withdrawn from the retail market. In the EU for example. But professional traders can still apply them. In regions such as India and Australia, binary are legal – but traders should make certain they use a reputable broker, and read our section below on fugitive scams.

Binary Options Scams & Frauds

The reputation of binary trading has suffered a lot from dishonest marketing and fraudulent brokers. As well many unregulated brokers promise quick cash, whilst operating frauds or merely promising too much. Regulators are on the case and this business organisation should soon be alleviated.

The bones thought behind a binary option is perfectly legitimate, but steer clear of ‘instant money’ promises, brokers that cold call, and celebrity endorsements, plus whatsoever claims that you can ‘showtime trading binary options for free’.

Then information technology isn’t a question of good or bad, it’s simply a question of being alarm to the dangers and knowing what to look out for. If you’re unsure most a broker, cheque our binary broker top list or ask the question in a live trading room to check their reputation.

Check our page on binary options scams for more than information.

Binary Options vs CFD Trading

Although in some ways similar, in that location remain some crucial differences between binary options and CFD trading. With CFDs, y’all have potentially unlimited take chances. If the cost of the nugget moves significantly, the value of the merchandise can grow very large, very quickly – for improve or worse.

Whereas binary options work slightly differently. Whilst yous are still investing without owning the asset in question, the gain and loss is fixed. With a binary pick, it doesn’t matter how much the price changes every bit long as information technology’s above or beneath the price betoken in question (depending on whether yous predicted the price to go up or down).

Likewise, if the toll sinks to zero, you’ll but lose what y’all put in. So, to ascertain the difference – with binary options yous get fixed take chances and know in advance exactly how much you stand up to proceeds or lose.

Why Trade Binary Options?

If you want to profit trading binary options, you need to beginning understand both their pros and cons. You need to make sure binary options will conform your trading style, run a risk tolerance, and upper-case letter requirements.

Advantages

In that location is a whole host of attractive benefits to trading with binary options. The greatest advantages accept been outlined below.

• Simplicity
  – Because you are making a conclusion on merely i factor, management, your bet is straightforward. The cost can only become up or down. You also don’t need to concern yourself with when the trade will end, the expiry time takes care of that. Whereas in other markets, you lot may need a organisation to limit your losses, such every bit a stop-loss.
• Stock-still take chances
  – Trade stocks, gold, and crude oil and you’ve got a vast number of factors to contend with, from slippage and margin to news events and toll re-quotes. With binaries, your run a risk is kept to a minimum with far fewer parameters.
• Trade control
  – Because you know what you lot may make or lose earlier you enter the trade, you have greater control from the get-go. Merchandise in stocks, for instance, and you have no guarantee that your trade will make the entry price.
• Profit potential
  – Compared to other trading, the returns in binaries are extremely bonny. Some brokerages hope payouts of up to 90% on a unmarried trade. If you lot’re looking to make unproblematic trades with big profit potential, binaries could well exist worth a expect in.
• Choice
  – Rather than being constrained to a specific market, e.grand. cryptocurrency or stocks, binary options gift traders the opportunity to trade instruments across virtually all markets, assuasive you outset currency, indices, and bonds trading if you lot and then wish.
• 
  Accessibility –
  In the binary options game, it’due south always the all-time trading hours somewhere on the world. And so, you can login at night, or on the weekends and join the groups of avid traders attempting to plow daily profits. Real-time charts are available for every marketplace so if y’all’ve got the time you can invest 24 hours a 24-hour interval.

Risks

Whilst there are plenty of reasons to delve into trading on binary options, at that place remain several downsides worth highlighting:

• Reduced trading odds
  – Whilst yous can benefit from trades that offering in backlog of 80% payouts, these are ofttimes when the decease date is some time away from the trade engagement. If the odds of your binary trade succeeding are extremely loftier you may accept to make do with reduced payout odds.
• Limited trading tools
  – Whilst almost brokerages offer advanced charting and analysis capabilities, trading tools for binary traders often fall short of the mark. Fortunately, there are other online sources for these graphs and tools, plus brokers are working swiftly to increment their offerings.
• Cost of losing
  – Your odds are tilted in favour of losing trades. Approximately for every 70% profit, the respective loss of the same trade would effect in an 85% loss. This means you need a win percentage of at least 55% to suspension-fifty-fifty.
• Risk management
  – Unlike other markets, brokers often set a trading floor, with minimum accounts a trader needs to enter the market. This means losing capital can happen with ease. Whilst a stocks broker may permit you to open an business relationship with $250, trading micro-lots, about binary brokers won’t let $50 trades. So, even with $250 in your account, merely five trades that don’t go your fashion could come across you sink into the red.

How Does Trading Binary Options Work?

Trading binary options for beginners is straightforward. Simply follow the steps outlined below.

Stride ane – Observe a broker

This is one of the near important decisions you will brand. Yous need the all-time binary options broker that meets all your requirements and who will enhance your trade operation. But with then many options out at that place, how practise y’all know what to look for?

Cost

If you’re high-frequency binary trading each day, the commission fees and costs will quickly rack upward. Y’all want to maximise your profits so look for brokers with a competitive and transparent fee construction, and recall, dissimilar asset classes pay out unlike amounts.

Deposit

One point worth investigating is rules around minimum deposits. Whilst some brokers will offer binary options trading with no minimum deposit, many will expect a deposit of close to $50, and some $100. A broker offering low minimum deposits is ideal if you’re strapped for cash. Trading binary with JC and GCI are good choices if you’re looking for low deposits.

Asset-Specific

Some brokers will specialise in certain assets. If you’re set on crude oil, it may be worth finding a broker that’s geared towards those binaries. You may benefit from relevant news feeds and the most prudent choice choices available. Trading binary stocks with 212, for case, is ideal for those interested in stocks.

Regulation

With scams out in that location it’s important you check your broker is properly regulated by the relevant financial body, due east.g. FCA, CySec, CFTC. Trading with 247 Binary Options, IQ option, and Binary.com are all safe bets.

Platform

Binary options platforms are your gateway to the market and where you’ll spend many hours a 24-hour interval. In that location are at present many online trading platforms, so, brand sure it’s piece of cake to use and offers all the charts, patterns and tools you need to make smart and accurate trade decisions. For instance, volition you lot exist trading binary options with candlesticks or more obscure charts?

Both Keystone and Nadex offering strong binary options trading platforms, as does MT4. Earlier y’all purchase, acquit a thorough trading platform comparing and check reviews.

Reliability

Any trouble could cost you time, and as an intraday trader, time can cost you serious cash. So, bank check the banker offers reliable back up. Some brokers volition offer 24/vii customer support through calls, live chat, and in a number of languages. Binary options trading with Etrade and 24 Choice are smart moves if y’all want top quality back up.

Trading apps

A growing number of people use mobile devices and tablets to raise their trading experience. Notwithstanding, software for trading binary options varies hugely. And so, it’southward worth checking whether your broker offers cross-platform capabilities. Likewise, check the charting tools you need volition piece of work on your iOS or Android device. Binary options trading with IQ Selection, for example, offers fantastic trading apps.

Extras

Many brokers volition sweeten the bargain with some useful add-ons. Some may offer costless trading plans, courses, and lessons. And so, find out start if they offer free courses online to enhance your trading performance. Some brokers will as well offer gratuitous binary trading trials so you can try before you buy.

You could also do good from trading bonuses, tips, the best strategy and trading signals reviews, plus free, practice demo accounts. Not to mention some brokers allow for binary options trading using Paypal. However, don’t be put off past no binary options trading eolith bonus, these tin can be a sign of potential scams.

Demo accounts

For newbies, getting to grips with a demo account outset is a sensible idea. Funded with simulated coin, you can try numerous assets and options. It’southward the perfect place to make mistakes and learn before you put existent capital on the line. In add-on, you’ll find most gratis binary options demo accounts crave no deposit, and then you can first practicing whilst you salvage that initial uppercase.

There is no universal best broker, it truly depends on your individual needs. Some brokers offering minimum trades of just a couple of pounds, whilst others require hundreds or even thousands. The solution – exercise your homework first.

Compare all brokers in the list of binary options brokers.

Step 2 – Choose An Instrument/Market place

You tin can trade binaries in pretty much everything, including stocks, forex, indices, and bolt. Y’all can bet on anything from the price of natural gas, to the stock cost of Google. Opt for an asset you have a good understanding of, that offers promising returns.

Step 3 – Determine On An Decease Time

Equally a brusque-term trader, you’ll probably exist more interested in 30 seconds, 1 infinitesimal and end of day death times. You demand to remainder binary options trading volume with price move. Whilst the more than trades you make means greater profit potential, it’southward improve to make fewer and more accurate trades. Besides, find a time that compliments your trading mode.

Step 4 – Decide On Size

In the binary options game, size does affair. The greater your investment the greater the possible turn a profit. On the flip side, remember the entirety of your investment is on the line. You need an effective money direction organization that will enable you to make sufficient trades whilst still protecting you lot from blowing all your capital letter.

Pace five – Choose An Option

You will accept whatever number of the options outlined above to choose from. Think carefully virtually how confident you are in your determination. Consider factors that will jeopardise your investment, and select an option that gives you the best chance of succeeding. Don’t automatically select a ladder trade because you want huge returns, consider which options are the relatively safe bets.

Once you’ve made that decision, cheque and confirm your trade. And then yous can sit back and expect for the merchandise payout.

Demo Video

Below is a video explaining how to trade binary options on the platform of a leading provider:

Strategies

Binary trading strategies volition differ from trade to trade. What may work for a ladder option in forex, may evidence useless in a range pick on gilt. Having said that, in that location are ii reasons yous must have a strategy.

Firstly, a strategy prevents emotions interfering in trade decisions. Fear, greed, and appetite can all lead to errors. A strategy allows yous to focus on the maths and data.

Secondly, a strategy allows y’all to echo assisting trade decisions. Once you’ve found out how and why that binary option worked, you tin can replicate it to create consistent profits.

Edifice A Strategy

At that place are two crucial elements to your binary options trading method, creating a signal, and deciding how much to trade. The second is essentially money management. How do you become nigh determining these 2 steps then?

Pace 1 – Creating A Indicate

The signal will tell you in which direction the price is going to go, allowing you to make a prediction alee of fourth dimension. The 2 primary ways to create signals are to apply technical analysis, and the news.

Charts, Patterns & Indicators

If you tin identify patterns in your charts, you may be able to predict future price movements. They rest on the thought that ‘history repeats itself’. You tin start trading binary options using Heiken-ashi, other candlesticks, and line charts. Armed with charts and patterns, successful traders will build a strategy around their findings.

You can then build indicators into your strategy, telling y’all when to make a binary option, and which binary option yous should go for. These technical tools can prove invaluable, so make certain your broker offers the features available to conduct thorough market analysis.

One of the great things about trading binary is y’all can employ any number of your normal indicators, patterns, and tools to help predict future binary options movements. So, you can offset trading with/using:

• Back up and resistance levels
• Price action
• Stochastic oscillators
• MACD indicators
• Trends
• Babypips
• Mirrors
• Options close to death

For more than detailed guidance, meet our charts and patterns pages.

News

Yous can merchandise binary options without technical indicators and rely on the news. The benefit of the news is that it’south relatively straightforward to understand and use. Y’all’ll need to wait for company announcements, such as the release of financial reports. Alternatively, look for more global news that could impact an unabridged market, such as a motion away from fossil fuels. Pocket-size announcements can send prices rocketing or plummeting.

If you tin can stay in the know yous tin can trade your binary options earlier the rest of the market catches on. To exercise that yous’ll need to be tuned into a range of news sources. You lot can browse online and have the TV or radio on in the background. Some of the well-nigh useful news sources in terms of trading data are:

• Yahoo Finance
• CNBC
• Business organization Insider
• Bloomberg
• Fiscal Times

Footstep two – How Much You Should Trade

If you lot’re just starting off, it’s often best to proceed things unproblematic. Trading the aforementioned amount on each trade until y’all find your anxiety is sensible. Below are three binary options trading strategies for both beginners and experienced traders.

Martingale Strategy

Binary options using the martingale trading strategy aim to recover losses as quickly as possible. To practise this yous’d merchandise larger amounts of money in the trades following a loss. So, y’all’d set an corporeality that you trade each time, say $250. However, if you lose on that $250, you’d bet $500 on the next trade. If the trade wins, you’ll already be back in the blackness, rather than being stuck around the break-even mark.

The problem with this strategy is that if you go on a losing streak you can lose a serious amount of capital letter in a short infinite of fourth dimension. So, simply utilize this strategy if yous’ve got a relatively accurate means of making merchandise decisions. If y’all’re even so in the trial and error stage, consider a different approach.

Pct Strategy

A percentage based system is pop amidst both binary options traders and other traders. The thought is you specify a percentage you’re willing to risk. Betwixt 1-2% is mutual. So, if you lot’ve got $10,000 in your account, and your take a chance value was ii%, yous could trade $200 on a unmarried trade.

If y’all have a greater gamble tolerance and consistent results you may want to increase that risk margin to 5%. The benefit of this arrangement is that you should never lose more than you can afford. This makes information technology an platonic approach to have if you’re new to trading on binary options.

Straddle Strategy

This example is best employed during periods of high volatility and merely earlier the intermission of important news announcements. This technique tin can be utilised by traders of all experience levels. It gives you lot the capability to avoid the call and put option pick, and instead allows putting both on a specified musical instrument.

You aim to apply put when the value of the instrument has risen, nevertheless you lot think that information technology’s going to decrease soon. Once the descent has begun, place a call option on it, anticipating it to bounciness back swiftly. You can also practice information technology in the reverse direction. Simply place a call on the assets prices depression and put on the ascent asset value.

This significantly increases the run a risk of at least i of the trade options producing a profitable consequence. If you’re in a volatile market, this simple system could you come across turn handsome profits. This works well as a binary options trading lx seconds strategy, and will also cover death times of up to one solar day.

Bots & Algorithmic Trading

Once y’all have honed a strategy that turns y’all consistent profits, yous may want to consider using an automated organization to use it. These robots usually rely on signals and algorithms that can exist pre-programmed.

The bots then practice all the leg piece of work, trading options on your behalf. The plus side is they can brand far more trades than you lot can practise manually, increasing your potential profit margin. They can also merchandise across different assets and markets.

It’due south worth investigating your brokers offering when it comes to automobile trading and checking for robot reviews. Many allow yous to build a program with relative ease. You tin use your ain entry points that rely on Bollinger bands, RSI/MFI patterns, and moving averages.

However, even when you’ve got your system up and running, you lot can’t go into trading binary options on autopilot, you need to stay tuned in. If any mistakes take place, you demand to be there to remedy the problem. Technical crashes and unpredictable market changes tin can all cause issues, so stay vigilant.

Timing

Many binary option strategies pdfs neglect to sufficiently consider fourth dimension variables. Certain strategies will perform better with specific fourth dimension options. You lot may want to look specifically for a 5-minute binary options strategy. Alternatively, trading 15-minute binary options may better accommodate your needs. And so, whichever strategy higher up you opt for, ensure you take time into account.

Summing Up Strategy

Trading binary options with success rests on finding a strategy that compliments your trading style. Then, consider the instrument you’re going to be trading. Then, employ an effective money direction organisation and employ charts and patterns to create telling indicators. Also, utilise news announcements to your advantage.

If you’re trying a new fence, gap, hedging, or any other binary strategy for the first time, why not try information technology on a trading practice business relationship first? This volition allow y’all to accost any issues before you invest your own money.

For more detailed guidance, encounter our strategies page.

Binary options Pedagogy

Binary options trading 101 – immerse yourself in educational resources. As Benjamin Franklin asserted, ‘an investment in knowledge pays the best interest’. The top traders never stop learning. The markets change and you need to change along with them.

To practise that, utilise some of the resources detailed beneath.

• Books & eBooks
  – There is a whole host of books and ebooks out there that can impart invaluable information on day trading binary options. You lot can benefit from the binary options trading knowledge of experts with decades of experience. The skilful thing nearly a book it is allows you to larn at a pace that suits you. 1 book that has made binary options trading easy is ‘Trading Binary For Dummies’, past Joe Duarte.
• Video tutorials & seminars
  – Engaging and easy to follow. At that place are numerous online video tutorials out at that place that can walk you through making a trade. With seminars, you’ll also be able to have questions answered and the binary options trading nuts explained, plus some brokers offer weekly seminars to keep yous up to date with market developments.
• PDFs & pedagogy guides
  – These will give you a articulate breakdown of steps that you can follow and apply. The all-time part is y’all can find plenty online that are totally gratis and easy to download, whether you’re using Android, Windows, or iOS. The trading binary options ‘Abe Cofnas’ pdf is peculiarly popular.
• Forums & chat rooms
  – This is the perfect identify to brainstorm ideas with binary options gurus. You can do good from recommendations and learn in real-time whilst investing in your binary options. You can also bandy alive nautical chart screen grabs to get a feel for other binary methods and tactics.
• Newsletters & blogs
  – These are brilliant for keeping upwards to engagement with upcoming developments that may affect your markets. Plus, you could hear about binary options competitions (yes, they actually practice exist).
• Re-create trading –This is when social trading networks/platforms are combined with binary trading tools. Y’all can follow experienced traders, analyse their strategies, and then replicate their trades. Bank check out copy trading reviews earlier yous sign upwardly.

All of the above volition play a cardinal part in your binary options training. Free trading videos and examples will aid give you an edge over the balance of the market, so employ them as much as possible.

Other Binary Trading Tips

Trading Journal

Unfortunately there is no binary options academy to enquire, or any expert binary traders that happily share their hard-earned feel. And then, explanations as to why that failed  trade didn’t work can be hard to come up by. Keeping a periodical with all your binary option trading results in could solve that issue. A detailed record of each trade, appointment, and price will assistance you hone your strategy and increase future profits.

Whether you go on it an excel document or yous use tailor-made software, it could well help you avoid future dangers. As an added bonus, it can brand filling in tax returns at the end of the yr considerably easier. A journal is one of the all-time-kept secrets in binary options, then now y’all know, utilize one.

Psychology

Trading binary options successfully isn’t simply almost having the right strategy. If you lot can’t control your emotions you will make plush mistakes. Every bit Robert Arnott stated, ‘what is comfortable is rarely profitable’. When the pressure kicks in, fearfulness and greed tin can distract you from the numbers.

Y’all need to take that losses are function of trading and stick to your strategy anyhow. If it’s based on authentic maths and conscientious technical analysis then you have to keep your faith. As soon as you lot start acting inconsistently your profits will endure.

Regional Differences

Regulation

As the popularity of binary options grows across the world, regulatory bodies are rushing to instill order. That means where yous trade and the markets you intermission into tin can all exist governed by different rules and limitations.

UK

If you’re day trading binary options in the United kingdom, for example, y’all will crave a license from the Britain gambling commission. If you opt for a banker regulated by the Fiscal Conduct Authority (FCA), yous’ll be guaranteed an extra level of protection. Beware some brokerages register with the FCA, but this is non the aforementioned as regulation.

Brexit has brought with it complications to trading regulations. The MiFID Two guidelines were gear up to be implemented across Europe enforcing rules around binaries, however, the Britain may not now implement the guidelines. This means the UK is no longer nether pressure from Europe to reclassify binaries as financial instruments.

Usa

Binary options trading for US citizens is limited by a option of just ii brokers. Nadex and CBOE are the only two licensed options. Fortunately, they are both huge firms offering competitive prices and a range of unlike assets to trade binaries on.

Rest Of World

In Commonwealth of australia, the Australian Securities and Investments Commission (ASIC) runs the show. If you’re interested in brokers based in Cyprus and Israel, and then cheque they are regulated by CySec. In Dubai and the balance of the UAE, binary options are regulated past the Dubai International Financial Centre (DIFC).

You tin can also start day trading binary options in Canada, India, Islamic republic of pakistan, Due south Africa, Malaysia, Kenya, New Zealand, Nigeria, Vietnam, Indonesia, and the Philippines. Each has their own regulatory bodies and dissimilar requirements.

So, if y’all desire protection, ensure you practice your research before you sign up for a binary broker on the other side of the world.

Taxes

Another important regional stardom comes in the course of taxes. Some countries consider binary options as a grade of gambling, such as the Great britain. This comes with notable benefits. The HMRC will non charge you any taxes on profits made through binary options. All the same, in the future binaries may fall nether the umbrella of financial derivatives and incur revenue enhancement obligations.

Having said that, if day trading binaries are your just form of income and you lot consider yourself a full-time trader, and so you lot may be liable to pay income tax. Whilst you are probably still exempt, information technology is worth seeking description.

Outside the Uk, tax regulation differs hugely. Binary options in Japan and Germany come with vastly different revenue enhancement obligations, for case. So, before you outset trading seek advice to define whether you lot’ll be exempt from tax. If not, will you pay income taxation, capital gains revenue enhancement, business tax, and/or any other form of taxation?

For more detailed information, encounter our taxes page.

Can Trading Binary Options Make Y’all Rich?

Although exciting and dynamic, to make a living trading binary options you’ll need to utilise this folio and other educational resources as guides. Tin can trading binary options make you lot rich then? In theory, yes it can, like any blazon of trading, merely in reality it takes a lot of skill and luck.

There is no question of binary options potential profitably, but to become there, y’all’ll need the right banker, an effective strategy, and solid trading instruction, for example past reading the resources we offering here. Starting small, and making sure you can exist profitable at all, is a good first stride and test of your abilities.

Brand sure to not trust any broker or person that guarantees quick profits if only yous eolith more coin. There is no such thing as guaranteed profits in any fiscal market. There are many examples of scam brokers that exploit people who mistakenly retrieve there is such a matter as “easy money”, make sure you lot’re not their next victim.

FAQ

Further Reading