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There is a wide variety of methods of studying your Bible.  However ultimately every form of Bible study must include the study of passages of Scripture.  So I would like to outline for you some simple little rules for getting the right understanding out of a passage of Scripture.
2 Timothy 2:15 
Study to shew thyself approved unto God, a workman that needeth not to be ashamed, rightly dividing the word of truth.
Remember that the Holy Spirit is the one and only true teacher of God's Word.  He was sent by Jesus to teach, guide you into the truth and to speak of the Lord Jesus Christ.  Remember to ask Him for wisdom to understand His Word.  He promises to give it if you ask in faith without doubting.  The more you study the Bible in dependence on Him the more the Bible will open up to you.
The purpose of Bible Study is to spend time with your Lord and Savior and to get to know Him and His nature and character.  Just like being in love you want to get to know the person and you do that by spending time with them and listening to them.  As God opens your eyes to see Jesus it will be transforming in your life.  It will happen without you even knowing it, if your focus is right.  Never let simple knowledge become the goal of your studies.  As I Cor 8 says, knowledge puffs up and make you arrogant.  That will destroy your relationship with the Lord for the Lord is opposed to the proud but give grace to the humble.
Since just plain knowledge will puff you up and and make you proud God will not give knowledge to you that you don't need and won't use.  So your attitude is very important.  You must be willing to do what God teaches you in order to know the truth.  In Prayer before you study seek to bring your heart to the place where it has no will of its own.  Be willing to do the will of God whatever it may be and then He will be free to teach you.
Prerequisites For Bible Study
2 Timothy 2:15 
Study to shew thyself approved unto God, a workman that needeth not to be ashamed, rightly dividing the word of truth.
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Always remember these three things when you go to study the Bible.  Hold on to these diligently throughout your life because if you neglect them you will be sure to fall into error.
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