If you've never heard of the SOAP method, the premise is simple. SOAP is an acronym to help you remember:
S - Scripture
Open your Bible to your reading for the day. Take time reading and allow God to speak to you. When you are done, look for a verse that particularly spoke to you that day, and write it in your journal.
O - Observation
What do you think God is saying to you in this scripture? Ask the Holy Spirit to teach you and reveal Jesus to you.
A - Application
Personalize what you have read, by asking yourself how it applies to your life right now. Perhaps it is instruction, encouragement, a new promise, or corrections for a particular area of your life. Write how this scripture can apply to you today.
P - Prayer
This can be as simple as asking God to help you use this scripture, or even a prayer for a greater insight on what He may be revealing to you. Remember, prayer is a two-way conversation, so be sure to listen to what God has to say! Now, write it out