But What Does 'Praise the Lord' Mean?

I've heard the phrase "PRAISE THE LORD!" for as long as I can remember, but I was never taught to go about my life every day saying those words when I received a gift or something good happened. But, I am happier when I give God the glory for his gifts of love. Most of the 'praising' I have done has been in the form of lyrics of songs I learned at church or from some singing group.
David ended his iconic Psalm 103 with these words - "PRAISE THE LORD, ALL HIS WORKS EVERYWHERE IN HIS DOMINION, PRAISE THE LORD O MY SOUL." NIV But, what does PTL really mean? What is it about?
For me, PTL means:
1) Having the HUMILITY to acknowledge him as Lord!
2) THANKFULNESS for all he has done, is doing and will do in my life and my family
3) BOWING before him in absolute faith & submission
4) LIFTING my heart and my hands to him out of pure, unashamed joy in his presence
5) Never failing to tell him "I LOVE YOU"
6) Spending INTENTIONAL TIME alone with him, listening and sharing my heart!
Luke tells us that soon after Pentecost, the earliest disciples of Jesus were "praising God and having favor with all the people" and the Lord just kept multiplying their number "day by day". There truly is something infectious about being around people who "Praise the Lord". I need people like that in my life. I find myself more and more looking for people who just do what David said we should all be doing. HALLELUJAH & HALLELUJAH!