Apparently this poet is having a bad day, "I am laid low in the dust...". We all have days like that sooner or later. This poet, though, prays that God will be the one who gets him through the day (as opposed to a stiff drink, a violent movie, a extra scoop of ice cream, etc.)
As the poet is scrolling through his recent past, trying to get a grip on why things came to this difficult situation, he finds a gaping need for God to instruct him about reality.
And then he states this fascinating request: "Cause me to understand the Way of (Jesus) your Precepts...that I may Meditate on your Wonderful Deeds."
Cause me to understand...what does that imply? Life is difficult and the link between our actions and the resulting consequences is often obscure - and God is mostly unseen and very mysterious. There is much that does not make sense of this life. That doesn't stop me for straining to understand it, hence my interest in philosophy, history, theology, culture, etc. But all this seeking will be in vain if I'm trying to understand God's reality independent of God's help. The scientific method may not be the most valid form for understanding the LORD, though it is really helpful when it comes to his creation, in a limited sort of way (which is inherent in the method). So God, please keep causing me to understand you and your Reality.
Why receive this understanding? So that my heart can be set free. What is the link between God's caused understanding and a free - heart? Understanding God's Way is also referenced as Remembering God's Wonder-Full Deeds. To remember the good God has done - in you, around you, to you, through you - is to reflect on it, its impact on you and the world around you. What is the good that God has done/been doing? Only God can help you discern, and in the discerning you discover that your heart has become free from the dark despair that has infected this beautiful world.
God, cause me to understand how good and great and glorious you are in this Creation - and set my heart free to run your Way.