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My
  hobby is reading. I read story books, magazines, newspapers and any kind of
  material that I find interesting.  
This hobby got
  started when I was a little boy. I had always wanted my parents to read fairy
  tales and other stories to me. Soon they got fed up and tired of having to
  read to me continually. So as soon as I could, I learned to read. I started
  with simple ABC books. Soon I could read simple fairy tales and other
  stories. Now I read just about anything that is available.  
Reading enables me
  to learn about so many things that I would otherwise not know. I learned
  about how people lived in bygone days
  of magic and mystery. I learned about the wonders of the world, space travel,
  human achievements, gigantic whales, tiny viruses and other fascinating
  things of our world.  
The wonderful thing
  about reading is that I do not have to learn things the hard way. For
  example, I do not have to catch a disease to know that it can kill me. I know
  the danger so I can avoid it. Also I do not have to go deep into the jungle
  to learn about the tiger. I can read all about it in a book.  
Books provide the
  reader with so much information and facts. They have certainly helped me in
  my daily life. I am better equipped to cope with living. Otherwise I would go about
  ignorantly learning things the hard way.  
So I continue to
  read. Besides being more informed about
  the world, I also spend my time profitably. It is indeed a good hobby.  
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1.       My hobby is reading. (Here reading is a verb ending in –ing. At the same time it is the subject of the verb is and function as a noun. Such a form
of the verb ending in –ing and
used as a noun is called a gerund).
2.       I learned about the wonders of the world, space travel,
human achievements, gigantic whales, tiny viruses and other fascinating things
of our world. (Present participle can be used as a verb
or an adjective. This is a type
of adjective) because as an adjective,
present participle is placed in front of the noun).
3.      
I was sleeping
when you called me. (As a verb, present
participle is placed after
the auxiliary verb to form a continuous /
progressive tense).
