This is the SOAP procedure:
Scripture - In your daily reading, pick a verse that stands out to you and makes you think a bit. You may not even understand what the writer is trying to say, but for some reason it stands out. Pick that and write it down.
Observation - What I do is pray about the scripture that I picked and ask the Holy Spirit to teach me about this verse. Then as ideas come to my mind, I write down what he is saying to me. So I am observing the verse and expanding on what the verse is teach, instructing or showing us.
Application - Then after writing the observation, I then write down how this verse will effect my life and how I can implement the teaching to my life and what changes I may need to make or how I can add it into my life.
Prayer - I write a short prayer at the end asking for God help, or thanking him, whatever is on my heart from doing the SOAP.
Daily Readings (see the right column)