1. For the Conductor, a plea not to be destroyed. A psalm by Asaph, a song.
2. We gave thanks to You, O God, we gave thanks; and Your Name was near [when] they1 told of Your wonders.
3. When I choose the appointed time, I will judge with fairness.
4. When the earth and all its inhabitants were melting, I established its pillars forever.
5. I said to the perverse, "Do not pervert [Israel]," and to the wicked, "Do not raise your pride.”

Tehillim Ohel Yoseph Yitzchok (Kehot Publication Society)

Tehillim is recited by Jewish people collectively and individually, as the desire occurs to offer praise and thanksgiving to G-d; or alternitavely, in times of crisis and need, as a form of supplication, and even as a venue to express regret for sin.

6. Do not raise your pride heavenward, nor speak with an arrogant neck
7. For not from the east or the west, nor from the desert does greatness come.
8. For God is Judge; He humbles one, and elevates the other.
9. For there is a cup [of punishment] in the hand of the Lord, with strong wine of full mixture; He pours from this, and all the wicked of the earth will drink, draining even its dregs.
10. But as for me, I will tell of it forever; I will sing to the God of Jacob.
11. I will cut off all glory of the wicked, but the glory of the righteous will be raised up.