Trading refers to the buying and selling of securities, such as stocks, bonds, and other financial instruments, in financial markets. It is the process of exchanging one financial instrument for another, usually with the aim of making a profit. Trading can be done by individuals or by institutions, such as banks and investment firms. It can take place on various platforms, such as stock exchanges, over-the-counter markets, and online platforms. Trading involves taking on risk in the hope of making a return on investment, and the success of a trade can depend on a variety of factors, such as market conditions and the performance of the underlying securities.