After the win over Everton in their opening game last week, hopes were high that Scott Rogers' charges could continue their encouraging form.
However, with former Liverpool star Fara Williams a commanding presence for the opposition, it turned into a tough evening for the Reds.
The visitors started strongly and Remi Allen went close in the early stages of the contest when she hit the post.
Reading took the lead on 18 minutes with a goal of stunning quality, Williams finding the net with a volley from just outside the box which gave Siobhan Chamberlain no chance.
And they made it 2-0 just past the half-hour mark as Allen pounced to score from close range.
Liverpool Ladies began the second 45 minutes brightly and came so close to getting back into the game.
Caroline Weir hit a post, Bethany England fired a great effort just past the upright, and Natasha Harding had a strike well saved.
Substitute Jess Clarke then struck agonisingly just wide and England was unlucky to see her header cleared off the line.
But there was always the danger of a Reading chance on the counter-attack, and so it proved with the third goal on 73 minutes when Brooke Chaplen netted to ensure three points for the visitors.
Despite the defeat, there was a positive for Rogers with the welcome sight of Martha Harris emerging from the bench to make her return from a long injury lay-off.
Liverpool Ladies: Chamberlain, Murray (Harris, 82), Greenwood, Stoney, Bonner, Ingle, Charles (Clarke, 60), Coombs, Harding, Weir, England.