Is Istikhara and how to perform it [or work with it]?

Istikhara is seeking the best from Allah the Almighty, and its meaning is that a Muslim asks his Lord to choose what is best for him in his religious and worldly affairs. It is a Sunnah for anyone who intends to undertake an important matter, and it is performed by praying two rak'ahs other than the obligatory prayers. Then the Muslim recites the well-known supplication: "O Allah, I seek Your guidance [in choosing the best option] by virtue of Your knowledge, and I seek Your capability by virtue of Your power, and I ask You of Your great bounty. For You are able and I am not, and You know and I do not, and You are the Knower of the unseen. O Allah, if You know that this matter (and he names his need) is good for me in my religion, my livelihood, and the outcome of my affairs, then decree it for me and make it easy for me, and then bless me in it. And if You know that this matter is evil for me in my religion, my livelihood, and the outcome of my affairs, then turn it away from me and turn me away from it, and decree for me good wherever it may be, and then make me content with it." After the supplication, the Muslim proceeds with his matter. If it is good for him, Allah will facilitate it, and if it is not, Allah will turn it away from him.