Many ask why is this Jesus prayer so important. It is not as many eastern meditation practices teach to gain a state of bliss or some psychic experience. The purpose is to keep our soul connected with God so we can live according to His will.
Elder Paisos puts it this way,
The soul must be constantly ready and alert and always in contact with the spiritual headquarters, that is, God. Only then, it will feel secure, full of hope and joy.
When we learn to pray continually, we gain an sense of security because God is always with us to guide and help us no matter what situation we encounter. We are never left to rely solely our own thoughts and reason, but always have God at our side.
The Elder says,
The more we pray, the more secure we feel, on a spiritual basis, of course.
Source: Elder Paisios of the Holy Mountain, p 79