The key meaning here is the *advise*. The idea is the people (giving counsel) helping you make plans by giving you advise. Think of a counselor in school. This varies depending on the person. It could be a financial advisor. For a President it's his cabinet. Some professional athletes had financial advisors that left them broke. At the very lease you want advise from people who are honest with lawful advise. Ideally you want advise from people who seek God's will.
The senses of the word as used in the Masoretic Text:
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As far as advice from the wicked, the most obvious is the advise of a criminal to be involved in his/her crime. Advice that contradicts God's will in the Bible is also advise from the wicked. Wicked advice does not necessarily ask you to do what is wrong. It may be advise that takes advantage of you to the benefit of the advisor. Thus, it is important that the adviser not be selfish and seeking their own gain.
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**Hebrew Poetry**
>(4) Parallelism.—What is so called is a case of logical rhythm as distinguished from rhythm that is merely verbal. ...
>(a) Kinds of parallelism: Lowth distinguished three principal species of parallelism, which he called synonymous, antithetic and synthetic.
>(i) The synonymous: In this the same thing is repeated in different words, e.g. Ps 36:5:
...
>(ii) Antithetic parallelism: in which the second member of a line (or verse) gives the obverse side of the same thought, e.g. Prov 10:1:...
> (iii) Synthetic parallelism: called also constructive and epithetic. In this the second member adds something fresh to the first, or else explains it, e.g. Ps 19:8 f:...
> (iv) Introverted parallelism (Jebb, Sacred Lit., 53): in which the hemistichs of the parallel members are chiastically arranged, as in the scheme ab ba. Thus Prov 23:15 f:...
> (v) Palilogical parallelism: in which one or more words of the first member are repeated as an echo, or as the canon in music, in the second. Thus Nah 1:2:...
> (vi) Climactic or comprehensive parallelism: In this the second line completes the first. Thus Ps 29:1:...
> Davies, T. W. (1915). Poetry, Hebrew. In J. Orr, J. L. Nuelsen, E. Y. Mullins, & M. O. Evans (Eds.), The International Standard Bible Encyclopaedia (Vol. 1–5, p. 2411). Chicago: The Howard-Severance Company.
**The Context**
Verse 1 has synonymous parallelism, while verse 2 has antithetic parallelism to verse 1. This helps to interpret the first phrase.
follow the counsel = take the path = join the company
Wicked = sinners = insolent
Verse 2 says the opposite is to learn from the Scriptures for advice, actions, and company.
Happy is the man who has not followed the counsel of the wicked,
or taken the path of sinners,
or joined the company of the insolent;
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rather, the teaching of the LORD is his delight,
and he studies that teaching day and night.
(Jewish Publication Society, Psalm 1:1–2)
[1]: https://i.sstatic.net/YYbGm.png
[2]: https://i.sstatic.net/LOkB7.png