"Do not fret" is the theme of this psalm. When the wicked seem to prosper, one should remain cool, calm and collected, trusting in the Word of the King. Your patience should always be high when trusting in the Word of the Lord God.
Commit your way to the Lord, trust also in Him, and He shall bring it to pass, means to trust the Lord God to handle the situation, for He is the Lord of the Heavens and Earth. Embrace patience for it is one of your greatest assets. But your faith in the Word of God, is your greatest asset.
When you know the Word of God, you know the character of God. When you know the character of God you will have faith that He will do what He says He will do in His Word. Then you can have peace in every situation. Peace through every storm.