As a good omen, people will often touch wood at the start of a day or at the beginning of a special event.
We don't really know the origins of the term 'touch wood' or 'knock on wood' but most of us use it fairly often.
'Touch wood' or 'knock on wood' is a popular saying intended to reverse any bad luck that might come our way, especially in regard to something we've just done or said.
In conversation, when we make some remark about something we hope won't happen or something that hasn't happened lately we will often touch wood to ensure our luck doesn't run out in regard to the thing we're talking about. A good example would be ' I haven't had a cold for 3 years!' Then we are likely to add an emphatic 'touch wood' or 'knock on wood'.
Or if we say something foolish like 'No, I don't need to back up my data because my computer never crashes . . . !' we might knock on our head with our knuckles a couple of times and say 'touch wood'!
When making some boastful comment we are likely to reach for the nearest piece of wooden furniture and 'knock on wood' to ensure our good fortune continues.
It is a strongly engrained superstition and folks will often go to great lengths to find something wood to 'knock on' fearing that if they don't touch wood their luck will surely run out.
Wearing a Touch Wood Ring won't keep any of us from saying something foolish or boastful but at least we won't have to hunt for a piece of wood to knock on . . .