I am going to dwell on the contextual. It is very difficult to come up with a wrong theology or heresy when studying the Bible this way.
If I want to study one book of the Bible, I start by reading it through at one sitting. Tomorrow I read it through again. The next day the same. When I do this, it reinforces what I learned the first time, plus I learn something additional that I missed.
I do this every day for a week. The second week I read the first half of the book each day. The third week I read the first chapter every day.
When I am reading this first chapter I cannot possibly take it out of context. I know where it fits in the whole book.
This is called deductive contextual study. I start with the whole and bring it down to one verse.
If I want to have a group contextual study of the book, deduction is difficult, so I use induction. I start with verse one and continue verse by verse str…