Psalms 62

TO THE CHIEF MUSICIAN, TO JEDUTHUN, A PSALM OF DAVID.
 
 [Psalms 62:1] TRULY MY SOUL WAITETH UPON GOD: FROM HIM COMETH MY SALVATION.  
Also translateable as:
"My mind will be silent only before Go, from HIM will my salvation come.
The word translated in the king James as  WAITETH in Hebrew is "dumiah" from the root "DOM" meaning silence. This reminds us of the English word, "dumb".  From "dumb" the English derive "dummy" meaning an imitation of a real object that cannot talk.
In Hebrew there is a similar word "DOMEH" meaning similar.
The same logic gives us the Hebrew "Dumiah", or "dumdumim" meaning the time of early morning or evening  when things casnnot be seen clearly.  This could have given us the English, "dim", meaning "faint light".
 
[Psalms 62:2] HE ONLY IS MY ROCK AND MY SALVATION; HE IS MY DEFENCE; I SHALL NOT BE  GREATLY MOVED.                     
 
[Psalms 62:3] HOW LONG WILL YE IMAGINE MISCHIEF AGAINST A MAN? YE SHALL BE SLAIN ALL OF  YOU: AS A BOWING WALL SHALL YE BE, AND AS A TOTTERING FENCE.                     
If you do bad to someone who God cares for you will have left yourself open to be punished. You will be like a wall of stones ready to collapse as soon as something brushes up against it.
 
[Psalms 62:4] THEY ONLY CONSULT TO CAST HIM DOWN FROM HIS EXCELLENCY: THEY DELIGHT IN LIES: THEY BLESS WITH THEIR MOUTH, BUT THEY CURSE INWARDLY. SELAH.   
Also translateable as:
"They counsel to take him down from his position, they wish to depose him. They speak falsely. They bless him with their mouth but inwardly they curse him."
David may have been referring to no-goods in his realm who pretended to give him correct advice but secretly sought his undoing so that they could depose him.
The private trials and tribulations of David were transformed into Psalms of universal significance.
In the Middle East today a lot of nations pressure Israel to compromise for the sake of "peace".  Some of them may be simply misguided but the impression exists that quite a few want to see Israel "taken down" as much as possible.  Jews sometimes get the impression that they are expected to apologize for the air they breath.                 
 
[Psalms 62:5] MY SOUL, WAIT THOU ONLY UPON GOD; FOR MY EXPECTATION IS FROM HIM.
In the end everyone at same stage or some point of their existence is alone.  There is a point where God is all you have.
Again the word translated as "WAIT" in Hebrew is "DOMI"  from the same "dom" root and it connotes silence as well as waiting.                 
 
[Psalms 62:6] HE ONLY IS MY ROCK AND MY SALVATION: HE IS MY DEFENCE; I SHALL NOT BE  MOVED.                     
 
[Psalms 62:7] IN GOD IS MY SALVATION AND MY GLORY: THE ROCK OF MY STRENGTH, AND MY   REFUGE, IS IN GOD.                     
 
[Psalms 62:8] TRUST IN HIM AT ALL TIMES; YE PEOPLE, POUR OUT YOUR HEART BEFORE HIM: GOD IS A REFUGE FOR US. SELAH.
One way of praying is simply to talk to God, tell him your troubles, and talk your way closer to HIM.                     
 
[Psalms 62:9] SURELY MEN OF LOW DEGREE ARE VANITY, AND MEN OF HIGH DEGREE ARE A LIE: TO BE LAID IN THE BALANCE, THEY ARE ALTOGETHER LIGHTER THAN VANITY.                     
<< MEN OF LOW DEGREE .MEN OF HIGH DEGREE>>:  This translation is probably technically correct  but it sounds somewhat too extreme. You could also render it, "ordinary peoplemore important people".
<<VANITY>>:  Hebrew "hevel". The word can also connote illusion.
<<ARE A LIE>>: Hebrew CaSaV also connoting disappointment.
Common people around us who determine how we live, what our attitudes and strivings are etc are something of a bluff. It is all pride and illusion and self-delusion. Important people are disappointing and deceiving. The two groups when compared with each other are not worth much.

[Psalms 62:10] TRUST NOT IN OPPRESSION, AND BECOME NOT VAIN IN ROBBERY: IF RICHES  INCREASE, SET NOT YOUR HEART UPON THEM.
    <<OPPRESSION>>:  Hebrew "oshek" also connoting cheating.  It happens in the course of our lives profession, or place of employment that we get caught up in situations  where we are lead to believe that we have to been the rules somewhat. God says through David that we should beware of that and not deceive ourselves.  Evven if our wealth does increase we should not put too much stock in it.               
 
[Psalms 62:11] GOD HATH SPOKEN ONCE; TWICE HAVE I HEARD THIS; THAT POWER BELONGETH UNTO GOD. 
This is a frequently quoted verse.  The same one message of Scripture can have several valid meanings at one and the same time.                   
 
[Psalms 62:12] ALSO UNTO THEE, O LORD, BELONGETH MERCY: FOR THOU RENDEREST TO EVERY MAN ACCORDING TO HIS WORK.   
We receive according to what we do.