The ready position is a very important component to a complete game. It provides a starting point to reach every ball in time to perform a successful stroke.
Set your feet in a wide stance. Bend your legs and lean forward with your upper body until you see the net's tape at about the half way point of the opposite table surface. This transfers the weight to the front of your feet and allows you to quickly spring up and move towards the ball.
Keep the racket straight in front of you ready to take it forehand or backhand.