2 Timothy 3:16 All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness: 17 That the man of God may be perfect, throughly furnished unto all good works.

Reading the Bible by itself is not Bible study. Our object is to learn the truths of the Word so we can apply them to our daily lives, and improve our walk for Christ. There are a multitude of methods and techniques for studying the Word, and what is right for you or me might not work for someone else. This article discusses several possible techniques, but there are whole books and a multitude of online resources to help you find a method that works best for you. The most important thing is to resolve to spend the time it takes to do it. Along with the time you spend in prayer, it will be one of the two most important things you can do on your own to mature as a Christian.

Before getting to some specific methods, there are a few things that will always apply, and should never be neglected:

Preparation should always begin with prayer. Ask the Lord to open your eyes to see whatever he wants you to see and understand in the passage you're about to read. Thank him in advance for using his Holy Spirit to instruct you and guide you.
Take notes. Some people jot down notes in the margin of their Bible, and that's ok for short notes if you feel comfortable doing so. I would advise, though, keeping a daily journal, either in written form, or, if you're studying online, in your Bible program or in a word processor. Your notes would consist of anything in the passage that represents something you want to remember for future reference, some particular application to your own life or that of someone else, and, when it occurs, a particular insight from the Holy Spirit you had never seen before.
Tools. If you can afford to do so, buy a Strong's Concordance, which will help you immeasurably in understanding the original meanings of some of the words used, particularly those with a different meaning in King James English compared to current usage. Did you know, for example, that in the King James Version, the word "conversation" actually means "lifestyle" in modern English? If you cannot afford the cost of one, many online sites, including this one, have resources available, either in the form of a Bible dictionary or one or more commentaries. Another good resource, and less bulky than Strong's, is Vine's Dictionary of the Old and New Testament. A commentary is not an absolute necessity, but may provide background and valuable insight. The old ones are still the best, in my view, such as the one by Matthew Henry.

For new Christians, it is important to understand the basics of our faith. I would recommend reading the four Gospels; some say it is best to begin with the Gospel of John, and I have no issue with that. After the Gospels, I would recommend the book of Romans, which is perhaps the best summary of basic Christian doctrine, then 1 John, a strong beginning in understanding Christian love and fellowship. After that, consider reading through the entire Bible, starting with Genesis. There are many Bible reading calendars available online; my favorite is the one at the Gideons International site, which contains readings from both the Old and New Testament for each day. Here again, there are many options; choose one that best suits your needs. Reading the whole book, from cover to cover, gives you a good perspective of God's whole plan for mankind. Some passages are laborious, such as the genealogies in Chronicles or the detailed descriptions of sacrificial law in Leviticus. Nothing in scripture is there by accident, since all of it is inspired. Don't let the more difficult passages be a stumbling block; if nothing else, skim through these passages with a promise to come back later. That's one reason why I like plans that offer readings from both the Old and New Testament on the same day; give more attention to the New Testament readings on those days.

Another possibility is a concentrated study on a particular book of the Bible. For this method, you would want to do your reading in smaller chunks, follow up references to other passages with similar themes, and, if possible, purchase or borrow a study guide devoted to that particular book. You might want to consult an outline, or do your own, and try to determine what the main themes are in the book. Your notes would still reflect what you have learned as you go along. If you have resources like a concordance or study Bible available, see what you can find out about the writer of the book, and the circumstances surrounding the events or ideas covered. For the poetic books, like Psalms and Proverbs, you might want not only to look at the theology involved, but what the particular chapter says about the person's relationship with God and with other people, and, especially in Psalms, his state of mind.

Topical studies can help us cope with issues in our own lives or those of others by pulling together scriptures from a wide variety of sources within the Bible. For this kind of study, a good concordance, if not Strong's, is essential. One important thing to remember is not to rip a verse out of context; read the passage around to be sure it says what you think it does. Not only can such a study help in dealing with personal issues, but it can help give a deeper understanding about basic concepts like faith, love, grace, mercy, and righteousness.

The main point in studying the Bible is that you're not on your own, or you shouldn't be. Whatever approach you use, the most important thing is to allow the Holy Spirit free rein in teaching you. The truths of scripture, Paul said, are spiritually discerned (1 Corinthians 2:14). If you have questions about the meaning of a passage, and you can't resolve them through your own study or research, ask your pastor or another more mature Christian. Just realize the some questions, like the real meaning of the Trinity, will never be answered this side of glory/

This is only a brief overview of a journey that can last a lifetime, and you can find many other articles or books that will give a more in depth understanding. As I said at the beginning, if you make the decision that Bible study is an important priority for you, there are abundant resources to draw on. Make Bible study a habit, a part of your daily routine. Even if it seems dry as dust from time to time, never give up. The Lord will always bring the waters back if you persist.