The title, "For the director of music. Of David. A Psalm", mentions this Psalm was designed to be sung and that it is a Psalm. David, the human author, understood God inspires what He wrote, and therefore God wants us to comprehend what it means. Although the original music is long gone, we may choose to put our own music to these words.
These early verses in this chapter speak of knowing God and God knowing us. We may choose to pray it this way to God Almighty, "You understand everything about my life. It is my goal to be guided by You. It has become obvious to me that no matter what I do in my life, You, God are aware of it, and You are working on changing me and guiding me to live like You desire me to live. I need to accept the fact that because I am one of Yours. The best thing for my life is to learn to pay attention to Your desires for my life and live the way You desire".
We must always remember that in order to have a close relationship with God, the first step is to realize that God exists. He knows everything about my life and more importantly He desires to guide my life in order to do His will. Once we accept the fact that He knows all things and wants to guide us, then we can make the best decisions possible knowing that in effect, "God has our back".
The attributes of God that are noted in these verses reveal the attribute of God's omniscience (all-knowing). He knows all our ways (daily behavior) and loves us nonetheless. Amen!
This speech about the realization that God is guiding us continues in verse 4.