It is a good thing to recite or lay claim on. But, where we suppose to lay emphasis on is not verses 4-6, those one are the resultant effects of verses 1-3.

Our study begins in Verse 1...”Hashem is my Ro'eh (Shepherd); I shall not lack".

I'm using a Hebrews version of that chapter and I'm going to explain the deeper meaning that such words carry.

Context!!!

David wrote Psalm 23 in unknown time. Some believe it was written while he was a shepherd boy attending to his father's sheep, while others believe the Psalm 23 was written during his time of fleeing away from Saul and the troubles of life. But the important thing here is; David was a shepherd boy before he became the king of Israel. His experience as a shepherd helped in writing this great Psalm 23.

The word "Hashem" means "the name" not "Lord" as we have it in English language. It is the custom of the Jews not to call out the original name of God, instead they use a "casual name" in place of God's name. God as we have it today does not mean God as a name. It’s a choice word used in replacement of His name. The "thou shall not call the name of the "Hashem" in vain" applies to all the manuscripts. There's a lot to dig in on this
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The High Priests were the one worthy to call that "the name" once in every year during the atonement in the Holies of holy.

Let me take this a bit further, the name Yehoshua or Yeshua means "Hashem saves".

We see now how that becomes confusing to us because if Hashem literary means "the name" and Yeshua means "Hashem saves", then what we have is "the name saves". So, in translation the actual name of God is hidden, because the Lord doesn't refers to a name it just talk about the "office".
I'm an accountant, isn't a name but the office I possess or work in.
Having explain that. Let's go into the second thing we see in verse 1. "Shepherd"

When David was talking about shepherd. It is very important to understand what David was saying here. A shepherd is the one that "Lord-it-over-the-sheep". The shepherd have full control of the sheep, he decides what is what for the sheep, he rebukes, corrects, showers love, heals and sometimes leave the sheep to wander in the field for a purpose.

A shepherd isn't a shepherd if one of those is lacking, and you cannot be a sheep to someone who cannot lord-it-over-you. We saw that in the life of David. He didn't just know the God of Israel, he allowed the "office of Him being the Lord" to made manifest in his life.

Making Jesus the Saviour is pretty easy, the hardest part is making Him Lord or allowing Him to function in our lives as "the Lord" and until He is that, we will lack (the king James version rendered that as "want" but "lack" is more appropriate, we'll get to that in few minutes).

It is not that He is not Lord. Christ is indeed Lord, controlling the affairs of this world and beyond, but we can choose Him to be that in our lives or we can ask him to excuse himself from that office.

So, Psalm 23:1 can be rendered as "My shepherd is the one who lord-it-over me and by this, he makes sure I don't lack as a sheep".

The implication of this is: Whatever controls, rules or governs our lives is automatically our shepherd. If entertainment, sex, food, money or anything takes that place of ruling or controlling our lives, it does not matter if we say we are Christians, Christ is not our shepherd.
We need to get into this verse 1 and be sure that Christ is indeed our shepherd else the opposite of the remaining verses will be our portion.

In verse 2 we have "He makes me to lie down in green pastures; He leads me beside the "mei menuchot".

With the understanding of verse 1. I think it should be cleared to us that, a good shepherd will lead his sheep into a greener pasture. The sheep obligation is not to seek the green pasture, their job is to allow the shepherd to be the LORD. It is the job of a good shepherd to go before his sheep like Jesus said “the shepherd leads the sheep out"(see John 10:3). He goes before them not behind them.

So, the sheep are secure not in themselves but in the Shepherd because he is their "LORD". Using the example of David and his men of war when their wives, children, and their cities were plundered. David as a man of war didn't say "go to, let's pursue them" rather, he inquired from his Shepherd "should I go, would we overtake them, would we recover all?”
In the book of Jeremiah, it is said "in that day I will give the children of Israel a shepherd, David my servant". David in allowing God to shepherd him, he became also a shepherd like his Father. Sons are to become like their Father.

What does green pasture mean..?

Part 2 is here