The Lord's Supper or communion should not be observed as merely an external ritual, but with the understanding of the reason behind it.
It is important for every believer saved by the blood of Christ to remember the great sacrifice and suffering of Jesus on a regular basis.
When the bread is broken, we remember that our Savior's body was broken for me and my sins.
When we drink from the communion cup, we remember that the precious blood of Christ was shed for the forgiveness of our sins.
We are supposed to examine ourselves (our filthiness and unworthy wretched state and the undeserved Gift).
While partaking in the Communion, we should remember our new identity as the children of grace and identify ourselves in the Body of Christ, which is the Church of Jesus Christ( All believers in Christ, not a physical Church).
1 Corinthians 10:16-17 16The cup of blessing which we bless, is it not the communion of the blood of Christ? The bread which we break, is it not the communion of the body of Christ? 17For we being many are one bread, and one body: for we are all partakers of that one bread.